Fundamental Analysis &
Analyst Recommendations
QMS Advisors FlexIndex SPI Top 100
The Swiss Performance Index is a total r...
Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD...
Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD...
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 20...
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 20...
Currency
Price to
Book
Ratio
Positive
Net
Income
Positive
Operati
ng Cash
Flow
Increasi
ng ROA
Quality
of
Earning
s
Long
T...
Currency
Price to
Book
Ratio
Positive
Net
Income
Positive
Operati
ng Cash
Flow
Increasi
ng ROA
Quality
of
Earning
s
Long
T...
27.09.2013
Nestle SA is a multinational packaged food company that manufactures and markets
a wide range of food products....
27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 119'317'602...
27.09.2013
Novartis AG manufactures pharmaceutical and consumer healthcare products. The
Company produces pharmaceuticals ...
27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CAPITAL GROUP COMPAN n/a ULT-AGG ...
27.09.2013
Roche Holding AG develops and manufactures pharmaceutical and diagnostic
products. The Company produces prescri...
27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC n/a ULT-AGG 21...
27.09.2013
UBS AG is a wealth management, investment banking, and asset management firm.
The Company provides a variety of...
27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GIC PRIVATE LIMITED n/a ULT-AGG 2...
27.09.2013
ABB Limited provides power and automation technologies. The Company operates
under segments that include power ...
27.09.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
INVESTOR AB n/a Co File 182'030'1...
27.09.2013
Compagnie Financiere Richemont SA, through subsidiaries, manufactures and
retails luxury goods. The Company pro...
Fundamental analysis & recommendations   qms advisors flex index spi index - the swiss performance index is a total rate o...
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Fundamental analysis & recommendations qms advisors flex index spi index - the swiss performance index is a total rate of return index of 300+ stocks issued by swiss companies.

  1. 1. Fundamental Analysis & Analyst Recommendations QMS Advisors FlexIndex SPI Top 100 The Swiss Performance Index is a total rate of return index of stocks issued by Swiss companies whose shares are traded on the Electronic Bourse System. October 2013 Q.M.S Advisors Q.M.S Advisors | Avenue de la Gare, 1 1003 Lausanne | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com | This material does not constitute investment advice and should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy.
  2. 2. Currency Market Capitalization (in mio USD) Daily Volume (M) Total Common Shares (M) Total Debt (USD) Preferred Stock (USD) Minority Interest (USD) Cash and Equivalents (USD) Enterprise Value (USD) Tot. Rev. - LFY Est. Tot. Rev. - Tr. 12M Est. Tot. Rev. - 2013 Est. Tot. Rev. - 2014 EBITDA - LFY Est. EBITDA - Tr. 12M Est. EBITDA - 2013 Est. EBITDA - 2014 EPS - LFY Est. EPS - Tr. 12M Est. EPS - 2013 Est. EPS - 2014 P/E Ratio - LFY Est. P/E Ratio - Tr. 12M Est. P/E Ratio - 2013 Est. P/E Ratio - 2014 Est. Revenue Growth - 1Y Est. Revenue Growth - 5Y Est. EBITDA Growth - 1Y Est. Est. EBITDA Growth - 5Y Est. EBITDA Margin - S&P LT Credit Rating - S&P LT Credit Rating Date Moody's LT Credit Rating Moody's LT Credit Rating Date S&P 500 INDEX USD 15589099 2072.157 1117 1117 203 219 219 104.06 110.23 110.23 16.29 16.29 15.38 15.38 18.48 Euro Stoxx 50 Pr EUR 2984944 6002.296 4677 4677 776 790 790 234.33 302.66 302.66 22.82 20.47 17.67 17.67 21.66 NIKKEI 225 JPY 2857793 203.0095 197 197 19 22 22 6.11 8.07 8.07 0.25 0.24 0.19 0.19 0.12 FTSE 100 INDEX GBP 2928075 12748.62 10012 10012 1524 1661 1661 538.12 807.42 807.42 31.40 24.43 20.93 20.93 22.98 SWISS MARKET INDEX CHF 1120741 11464.75 4198 4198 969 861 861 454.08 567.77 567.77 21.44 18.26 17.14 17.14 24.51 S&P/TSX COMPOSITE INDEX CAD 1697982 17615.94 7406 7406 1859 1968 1968 732.48 803.81 803.81 16.58 16.59 15.11 15.11 24.14 S&P/ASX 200 INDEX AUD 1366032 6451.078 2681 2681 547 684 684 215.80 320.53 320.53 21.50 17.78 14.48 14.48 19.99 HANG SENG INDEX HKD 1793920 3572.425 1668 1668 376 393 393 278.61 269.06 269.06 1.39 1.48 1.43 1.43 2.98 MSCI EM USD 7592957 1394.039 983 983 191 180 180 84.97 88.32 88.32 11.89 12.19 11.44 11.44 19.60 NESTLE SA-REG CHF 224520 2623 3189 30 0 2 10 250.76 98836 101372 104158 109411 - - - - 3.52 3.58 3.81 4.11 21.36 20.96 20.10 18.63 8.08 -3.17 - - - AA 16.08.2007 - - NOVARTIS AG-REG CHF 207299 1788 2421 22 0 0 9 244.30 62285 62797 63163 64877 18369 18107 - - 4.40 4.24 5.65 6.12 21.94 21.52 16.48 15.20 -3.55 7.45 -6.81 11.60 31.69 AA- 07.04.2008 Aa3 08.02.2013 ROCHE HOLDING AG-GENUSSCHEIN CHF 230733 594 863 27 0 2 15 248.03 50004 50963 51968 53911 21321 21572 - - 15.15 14.54 16.53 17.75 20.24 19.92 17.80 16.58 7.67 1.55 9.25 2.94 46.52 AA 17.09.2012 - - UBS AG-REG CHF 79197 4804 3747 294 0 5 73 242.44 41492 42530 32031 32564 17067 - - - 0.58 -0.70 1.09 1.42 - 17.68 20.75 15.94 -8.40 -11.00 -12.18 -34.44 - A 29.11.2011 A2 21.06.2012 ABB LTD-REG CHF 54695 2629 2296 11 0 1 9 64.75 43231 44737 45276 47059 5818 6304 1693 1693 1.32 1.34 1.60 1.81 21.41 20.50 17.99 15.82 3.89 3.70 -7.61 2.73 15.49 A 08.06.2010 - - CIE FINANCIERE RICHEMON-REG CHF 57836 681 553 2 0 0 6 43.68 11155 11155 12127 13271 3096 3096 1796 1796 3.96 4.02 4.40 4.93 22.48 22.88 20.56 18.32 15.89 15.09 19.80 16.00 30.50 - - - - CREDIT SUISSE GROUP AG-REG CHF 48050 2466 1325 363 0 7 70 42107 41736 29466 30450 - - - - 2.42 1.78 2.81 3.29 18.76 11.20 11.91 10.16 -11.28 -12.16 - - - A- 02.07.2013 (P)A2 21.06.2012 SYNGENTA AG-REG CHF 38370 135 92 4 0 0 2 45.89 15608 15746 16531 17653 3460 3361 - - 25.01 21.28 25.60 28.84 23.53 21.15 19.56 17.36 7.74 3.43 9.85 11.26 23.46 A 15.06.2007 - - ZURICH INSURANCE GROUP AG CHF 38024 203 147 14 0 3 10 49.75 77422 78767 64599 65897 - - - - 29.11 26.25 29.83 31.95 11.87 11.86 10.45 9.75 36.24 6.94 - - - - - - - SWISS RE AG CHF 30964 435 343 22 0 0 12 42.90 36395 39016 37279 39394 - - - - 12.16 16.12 10.87 9.34 6.29 6.78 9.33 10.87 21.03 8.01 - - - - - - - SWATCH GROUP AG/THE-BR CHF 33822 57 54 0 0 0 2 32.75 8568 8926 9657 10603 2467 2499 1614 1614 32.55 33.48 35.48 39.93 21.14 21.16 19.95 17.73 16.77 8.94 23.97 10.26 30.77 - - - - HOLCIM LTD-REG CHF 24408 497 325 15 0 3 3 39.37 23677 22899 22814 23838 4379 4254 1423 1423 2.11 2.70 4.40 5.82 30.33 30.09 18.65 14.09 4.24 -5.00 0.72 -11.52 20.42 BBB 22.01.2009 Baa2 09.04.2009 TRANSOCEAN LTD CHF 16097 342 14 0 0 6 25.96 10107 10287 10467 11423 3040 3850 1008 1008 - - 4.40 5.88 - - 12.33 9.23 16.01 -5.32 90.75 -4.23 41.13 - - - - SGS SA-REG CHF 18733 8 8 1 0 0 1 19.52 6130 6357 6636 7185 1235 1303 - - 79.69 82.87 97.70 112.08 31.76 30.78 26.94 23.48 17.89 5.02 11.80 4.84 22.54 - - - - WEATHERFORD INTL LTD CHF 11643 21 9 0 0 0 22.74 16722 17125 17765 19406 2687 2757 849 849 - - 0.91 1.43 - - 20.23 12.89 18.84 13.82 0.09 2.04 17.70 - - - - SWISSCOM AG-REG CHF 24964 75 52 10 0 0 1 34.61 12511 12484 12537 12622 4514 4366 1208 1208 37.08 34.98 34.35 34.97 15.14 15.21 15.42 15.15 -0.80 -1.42 -4.93 -0.21 38.44 A 30.06.2009 A2 27.06.2007 GIVAUDAN-REG CHF 13466 9 9 2 0 0 0 14.80 4679 4787 4876 5102 957 1046 - - 49.29 57.89 66.44 73.29 27.69 27.89 24.13 21.87 9.60 1.61 16.89 -0.10 24.02 - - - - JULIUS BAER GROUP LTD CHF 10429 404 214 9 0 0 17 2230 2477 2438 2899 - - - - 2.34 1.25 2.57 3.17 40.88 30.06 19.91 16.18 -1.24 0.72 - - - - - - - GEBERIT AG-REG CHF 10057 53 38 0 0 0 0 9.73 2110 2135 2510 2629 596 606 169 169 11.30 11.64 12.39 13.23 25.12 25.12 23.60 22.10 3.06 -2.06 2.15 -3.31 31.19 A- 25.05.2010 - - ADECCO SA-REG CHF 13375 524 185 2 0 0 1 12.55 22570 21753 21591 22802 910 863 - - 2.20 2.06 3.14 3.94 30.85 30.85 20.20 16.11 -0.05 1.12 -12.99 -7.34 4.36 BBB 12.10.2011 Baa3 20.10.2009 ACTELION LTD-REG CHF 8473 304 113 0 0 0 1 7.11 1893 1917 1943 2018 553 601 145 145 2.83 3.19 4.05 4.33 24.29 22.91 19.12 17.88 0.58 6.51 17.08 4.75 34.43 - - - - KUEHNE & NAGEL INTL AG-REG CHF 15931 71 120 0 0 0 1 15.10 18815 19121 19339 20220 1018 1102 283 283 4.76 5.14 5.64 6.33 28.37 26.79 25.88 23.04 6.11 0.68 -6.27 -2.13 6.34 - - - - SCHINDLER HOLDING-PART CERT CHF 17023 63 116 1 0 0 3 15.00 9076 9382 9684 10303 1213 1230 - - 6.63 5.40 6.58 7.53 30.17 30.30 24.73 21.63 5.65 -8.40 20.14 3.16 14.41 - - - - SONOVA HOLDING AG-REG CHF 8236 51 67 0 0 0 0 8.06 1973 1973 2127 2277 262 262 251 251 1.82 1.82 5.94 6.71 73.89 73.89 22.68 20.09 11.90 9.81 -38.36 -8.94 14.59 - - - - SIKA AG-BR CHF 7381 2 3 1 0 0 1 7.73 5307 5412 5595 6044 625 658 - - 144.26 157.67 143.89 166.31 20.51 20.51 22.47 19.44 6.57 1.62 21.06 -2.48 13.37 A- 02.05.2000 - - SWATCH GROUP AG/THE-REG CHF 33822 65 0 0 0 2 32.75 8568 8926 9479 10259 2467 2499 2704 2704 - - 7.13 7.81 - - 17.34 15.83 16.77 8.94 23.97 10.26 30.77 - - - - ARYZTA AG CHF 5867 87 88 2 0 0 1 6.04 4624 4796 4871 5179 594 605 - - 1.65 1.59 3.91 4.34 35.96 36.01 14.68 13.23 9.38 - 12.45 23.81 13.87 - - - - SWISS LIFE HOLDING AG-REG CHF 6145 75 32 3 0 0 7 4.03 20965 21303 20622 19898 - - - - 19.47 6.99 24.74 23.90 30.10 9.01 8.51 8.81 11.35 2.41 - - - BBB 03.05.2012 - - CLARIANT AG-REG CHF 5574 858 296 4 0 0 2 7.81 6636 7146 6788 7071 848 825 228 228 1.04 0.86 1.16 1.36 21.53 17.42 15.96 13.59 -19.86 -5.48 -12.83 -0.09 12.69 BBB- 14.03.2011 Ba1 03.03.2009 BALOISE HOLDING AG - REG CHF 5578 75 47 2 0 0 3 4.38 10258 10502 9026 9317 - - - - 9.98 10.85 11.31 11.58 11.30 11.61 10.84 10.59 23.47 2.73 - - - - - - - LINDT & SPRUENGLI AG-REG CHF 10067 0 0 0 0 0 1 9.38 2934 3043 3153 3376 503 536 430 430 1304.43 1359.57 1479.41 1631.53 38.07 38.08 34.99 31.73 7.99 -0.23 9.25 0.64 19.35 - - - - SWISS PRIME SITE-REG CHF 4621 46 60 5 0 0 0 9.18 634 681 745 741 373 380 - - 2.99 6.76 3.98 4.09 12.42 26.05 21.11 20.54 0.98 43.22 -4.82 19.49 61.38 - - - - PARTNERS GROUP HOLDING AG CHF 6561 35 25 0 0 0 0 6.74 620 662 542 616 325 367 178 178 10.90 12.63 11.87 13.76 21.39 22.04 22.75 19.62 28.25 17.60 27.61 1.94 60.90 - - - - LONZA GROUP AG-REG CHF 4330 133 52 3 0 0 0 7.09 4314 4072 4225 4447 703 - - - 3.86 2.74 5.38 6.54 32.86 32.78 16.71 13.76 50.34 7.44 21.08 -0.94 - - - - - GALENICA AG-REG CHF 5533 17 6 1 0 0 0 6.33 3965 3989 3906 4067 474 500 - - 43.73 47.88 48.56 49.72 19.54 19.60 19.27 18.81 4.02 3.51 8.62 19.36 13.78 - - - - DUFRY AG-REG CHF 4471 73 29 2 0 0 0 6.37 3466 3631 3999 4524 488 468 192 192 4.85 3.53 7.02 9.32 46.94 47.38 23.60 17.77 21.50 - 31.82 13.86 14.16 BB+ 15.10.2012 - - LINDT & SPRUENGLI AG-PC CHF 10067 1 0 0 0 1 9.38 2934 3043 3164 3391 503 536 431 431 - - 146.07 159.60 - - 30.52 27.93 7.99 -0.23 9.25 0.64 19.35 - - - - SULZER AG-REG CHF 5238 85 34 1 0 0 1 5.44 4420 4396 4527 4816 607 563 330 330 9.87 8.88 8.94 11.12 18.92 19.01 18.80 15.11 13.63 2.47 16.01 2.78 14.07 - - - - PSP SWISS PROPERTY AG-REG CHF 3980 80 46 2 0 0 0 6.08 311 311 302 306 193 235 67 67 3.87 8.39 3.95 3.92 11.37 25.74 24.12 24.33 -0.35 - -26.57 6.32 83.22 - - - - SCHINDLER HOLDING AG-REG CHF 17023 17 116 1 0 0 3 15.00 9076 9382 9684 10303 1213 1230 - - 6.63 5.40 6.58 7.53 29.26 29.37 23.98 20.97 5.65 -8.40 20.14 3.16 14.41 - - - - GAM HOLDING AG CHF 3160 298 165 0 0 0 1 1098 1237 743 782 - - - - 0.56 1.12 1.37 1.46 17.89 18.24 14.58 13.69 25.29 - - - - - - - - HELVETIA HOLDING AG-REG CHF 3875 22 9 0 0 0 2 3.41 8756 9030 8515 8768 - - - - 41.89 44.19 44.31 45.90 11.14 11.14 11.11 10.72 6.90 11.89 - - - - - - - FISCHER (GEORG)-REG CHF 2499 9 4 1 0 0 0 2.98 3959 3926 4082 4268 395 397 - - 40.88 33.74 42.79 48.81 19.85 16.16 15.65 13.72 2.85 -3.01 -4.13 -6.20 11.11 - - - - EMS-CHEMIE HOLDING AG-REG CHF 8155 14 23 0 0 0 1 7.80 1929 1984 2068 2182 414 - 221 221 12.82 13.23 13.77 14.14 28.96 28.96 27.82 27.10 6.48 7.18 9.26 3.14 - - - - - BARRY CALLEBAUT AG-REG CHF 5411 5 5 1 0 0 0 6.51 5308 5214 5490 6734 485 - - - 50.95 49.94 46.91 55.87 21.70 21.79 23.10 19.39 9.11 -1.57 -4.07 0.33 - BB+ 28.03.2013 - - OC OERLIKON CORP AG-REG CHF 4406 538 325 0 0 0 1 4.01 3194 2635 3201 3301 629 509 - - 0.74 0.49 0.75 0.86 30.04 30.86 19.88 17.18 7.04 -7.40 17.61 -4.44 21.22 - - - - DKSH HOLDING LTD CHF 5497 73 63 0 0 0 0 5.47 9709 9709 10983 12046 352 352 196 196 3.12 3.49 3.54 3.95 26.89 30.12 26.52 23.78 22.37 - 18.59 - 3.99 - - - - PARGESA HOLDING SA-BR CHF 6408 66 85 4 0 10 2 19.60 5402 5321 541 612 1560 1066 - - 5.94 1.49 4.85 6.04 55.48 34.15 17.11 13.72 4.33 -2.24 60.50 0.93 22.01 - - - - FLUGHAFEN ZUERICH AG-REG CHF 3239 10 6 1 0 0 0 4.43 1043 1056 1067 1083 430 433 575 575 17.05 4.44 27.42 35.85 130.58 130.58 21.15 16.17 5.27 2.34 -21.16 -1.07 45.10 A 20.04.2012 - - PANALPINA WELTTRANSPORT -REG CHF 3472 29 24 0 0 0 0 3.12 7272 7404 7957 8316 40 121 51 51 -0.45 -0.40 3.78 5.15 - - 42.52 31.20 1.98 -1.67 -90.95 -40.75 1.80 - - - - Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  3. 3. Currency Market Capitalization (in mio USD) Daily Volume (M) Total Common Shares (M) Total Debt (USD) Preferred Stock (USD) Minority Interest (USD) Cash and Equivalents (USD) Enterprise Value (USD) Tot. Rev. - LFY Est. Tot. Rev. - Tr. 12M Est. Tot. Rev. - 2013 Est. Tot. Rev. - 2014 EBITDA - LFY Est. EBITDA - Tr. 12M Est. EBITDA - 2013 Est. EBITDA - 2014 EPS - LFY Est. EPS - Tr. 12M Est. EPS - 2013 Est. EPS - 2014 P/E Ratio - LFY Est. P/E Ratio - Tr. 12M Est. P/E Ratio - 2013 Est. P/E Ratio - 2014 Est. Revenue Growth - 1Y Est. Revenue Growth - 5Y Est. EBITDA Growth - 1Y Est. Est. EBITDA Growth - 5Y Est. EBITDA Margin - S&P LT Credit Rating - S&P LT Credit Rating Date Moody's LT Credit Rating Moody's LT Credit Rating Date S&P 500 INDEX USD 15589099 2072.157 1117 1117 203 219 219 104.06 110.23 110.23 16.29 16.29 15.38 15.38 18.48 Euro Stoxx 50 Pr EUR 2984944 6002.296 4677 4677 776 790 790 234.33 302.66 302.66 22.82 20.47 17.67 17.67 21.66 NIKKEI 225 JPY 2857793 203.0095 197 197 19 22 22 6.11 8.07 8.07 0.25 0.24 0.19 0.19 0.12 FTSE 100 INDEX GBP 2928075 12748.62 10012 10012 1524 1661 1661 538.12 807.42 807.42 31.40 24.43 20.93 20.93 22.98 SWISS MARKET INDEX CHF 1120741 11464.75 4198 4198 969 861 861 454.08 567.77 567.77 21.44 18.26 17.14 17.14 24.51 S&P/TSX COMPOSITE INDEX CAD 1697982 17615.94 7406 7406 1859 1968 1968 732.48 803.81 803.81 16.58 16.59 15.11 15.11 24.14 S&P/ASX 200 INDEX AUD 1366032 6451.078 2681 2681 547 684 684 215.80 320.53 320.53 21.50 17.78 14.48 14.48 19.99 HANG SENG INDEX HKD 1793920 3572.425 1668 1668 376 393 393 278.61 269.06 269.06 1.39 1.48 1.43 1.43 2.98 MSCI EM USD 7592957 1394.039 983 983 191 180 180 84.97 88.32 88.32 11.89 12.19 11.44 11.44 19.60 NOBEL BIOCARE HOLDING AG-REG CHF 1830 205 123 0 0 0 0 1.43 638 630 626 650 111 102 23 23 0.41 0.35 0.43 0.50 37.72 33.69 30.87 26.47 2.18 -2.66 -4.05 -17.74 17.79 - - - - BUCHER INDUSTRIES AG-REG CHF 2636 7 10 1 0 0 1 2.86 2867 2899 2963 3061 335 348 - - 16.84 17.17 19.04 20.36 16.46 16.47 14.85 13.88 12.84 0.51 18.97 1.53 13.21 - - - - KABA HOLDING AG-REG B CHF 1676 10 4 0 0 0 0 1.62 1060 1060 1081 1117 165 165 173 173 23.76 24.29 25.50 28.27 19.88 20.32 18.93 17.08 1.95 -3.44 -2.65 -6.79 17.10 - - - - STRAUMANN HOLDING AG-REG CHF 2843 22 15 0 0 0 0 2.71 754 747 749 771 105 109 - - 2.59 3.31 7.81 8.75 60.25 60.28 25.53 22.77 -1.16 -3.22 -19.94 -18.70 15.97 - - - - TEMENOS GROUP AG-REG CHF 1773 660 69 0 0 0 0 2.12 495 503 522 559 119 140 37 37 0.38 0.76 1.25 1.46 39.44 39.44 23.92 20.42 -5.40 4.46 24.06 7.20 30.61 - - - - BANQUE CANTONALE VAUDOIS-REG CHF 4684 6 9 9 0 0 7 1452 1430 1096 1133 - - - - - 38.95 37.67 38.93 15.36 - 15.88 15.37 -2.48 -3.00 - - - AA 05.12.2011 NR 18.05.2010 VALIANT HOLDING AG-REG CHF 1525 24 16 7 0 0 2 678 682 428 424 - - - - 5.97 7.64 7.65 7.52 13.89 15.87 13.87 14.12 0.39 -2.54 - - - - - - - KUONI REISEN HLDG-REG(CAT B) CHF 1605 4 4 0 0 0 0 1.39 6424 6423 6373 6572 188 240 - - -1.88 -1.84 26.08 32.18 - - 16.91 13.71 15.79 5.30 2.76 -2.91 4.10 - - - - ALLREAL HOLDING AG-REG CHF 2204 9 16 2 0 0 0 4.08 955 1005 306 316 189 188 211 211 7.15 6.47 8.08 8.75 23.47 20.77 18.80 17.36 4.86 48.39 -6.20 6.95 20.59 - - - - LOGITECH INTERNATIONAL-REG CHF 1530 1076 159 0 0 0 0 1.34 2308 2318 2242 2282 83 114 33 33 -0.16 -1.22 0.36 0.53 - - 29.70 20.27 -10.26 2.38 -52.51 -28.38 5.41 - - - - LUZERNER KANTONALBANK AG-REG CHF 3370 1 8 6 0 0 3 753 740 469 480 - - - - 21.37 22.33 23.82 24.53 19.51 19.81 18.30 17.76 -5.19 -5.49 - - - AA+ 12.09.2008 - - MOBIMO HOLDING AG-REG CHF 1288 6 6 1 0 0 0 2.45 277 251 136 133 92 91 112 112 8.04 13.83 9.75 9.31 16.49 27.66 23.39 24.48 10.68 5.09 3.49 7.17 39.84 - - - - TECAN GROUP AG-REG CHF 1212 39 11 0 0 0 0 1.07 430 429 447 490 69 70 76 76 4.22 4.17 4.61 5.47 27.94 28.39 25.25 21.28 4.12 0.02 4.00 -2.88 17.97 - - - - BERNER KANTONALBANK AG-REG CHF 2439 1 9 2 0 0 3 729 735 - - - - 18.24 15.20 18.92 14.49 -4.21 -8.18 - - - - - - - BELIMO HOLDING AG-REG CHF 1570 0 1 0 0 0 0 1.49 489 510 530 573 101 109 114 114 110.72 117.69 125.22 137.95 23.84 23.84 22.41 20.34 7.57 3.93 13.59 6.28 23.47 - - - - BURCKHARDT COMPRESSION HOLDI CHF 1338 6 3 0 0 0 0 1.17 403 403 480 522 95 95 31 31 18.27 18.27 19.46 22.55 23.67 23.67 22.22 19.18 12.61 3.80 9.93 -2.18 25.90 - - - - AMS AG CHF 1374 33 14 0 0 0 0 1.12 426 414 429 484 130 111 26 26 6.66 5.19 4.90 6.65 16.40 17.31 17.34 12.79 44.62 25.66 75.48 20.83 29.45 - - - - FORBO HOLDING AG-REG CHF 1693 6 2 0 0 0 0 1.44 1320 1308 1311 1332 227 - - - 63.15 67.86 49.74 54.26 12.18 12.18 16.62 15.24 -0.25 -9.04 5.18 -2.99 - - - - - ST GALLER KANTONALBANK A-REG CHF 2242 2 6 6 0 0 3 782 774 541 512 - - - - 28.58 28.34 32.21 32.92 15.60 15.72 13.73 13.43 1.34 -6.15 - - - - - Aa1 02.12.2003 GRAUBUENDNER KANTONALBANK-PC CHF 3270 0 2 3 0 0 2 543 539 425 439 - - - - 69.88 65.56 84.68 89.46 21.93 19.15 16.97 16.07 -3.35 1.64 - - - AA+ 17.12.2010 - - MEYER BURGER TECHNOLOGY AG CHF 897 707 58 0 0 0 0 0.84 709 470 351 546 -36 -105 -65 -65 -2.13 -3.01 -1.85 -0.59 - - -55.98 4.84 - - -24.65 - - - - DAETWYLER HOLDING AG-BR CHF 2117 20 16 0 0 0 0 2.17 1303 1332 1549 1656 175 - 234 234 6.62 7.26 8.27 9.96 18.84 18.84 16.55 13.73 14.17 3.32 -3.34 -3.69 - - - - - VONTOBEL HOLDING AG-REG CHF 2507 16 63 10 0 0 5 8.90 995 1078 970 1036 244 252 - - 2.22 2.41 2.69 3.13 17.61 17.85 15.77 13.55 1.75 0.19 4.32 -12.72 25.74 A 30.03.2009 - - EFG INTERNATIONAL AG CHF 2039 4 147 2 0 0 5 1288 1228 790 806 - - - - 0.87 1.03 1.04 1.17 14.79 18.57 14.74 13.07 9.58 417.01 - - - - - - - BASILEA PHARMACEUTICA-REG CHF 779 39 10 0 0 0 0 0.49 64 52 45 63 -52 - -45 -45 -6.08 -4.09 -4.29 -3.37 - - -14.53 84.77 14.49 - - - - - - IMPLENIA AG-REG CHF 1121 27 18 0 0 0 1 0.89 2963 3198 3236 3416 155 164 174 174 4.14 4.52 4.79 5.18 14.76 14.76 13.92 12.86 7.54 5.77 4.22 12.57 5.62 - - - - HUBER & SUHNER AG-REG CHF 1057 6 20 0 0 0 0 0.91 767 848 814 860 84 - 100 100 1.23 2.17 2.41 2.95 26.56 26.56 23.85 19.52 -8.75 2.38 - -6.85 - - - - - ZUGER KANTONALBANK-BR CHF 1495 0 0 3 0 0 1 359 352 - - - - 233.46 233.03 24.47 24.47 -3.68 -3.55 - - - - - - - SCHWEIZERISCHE NATL-V AG-REG CHF 1008 7 22 0 0 0 1 0.50 1749 1735 1729 1786 - - - - 5.14 4.97 5.08 5.39 10.10 10.09 9.88 9.33 0.84 -4.46 - - - NR 23.05.2006 - - GATEGROUP HOLDING AG CHF 682 34 26 0 0 0 0 0.99 3289 3345 3366 3463 72 51 - - -2.45 -3.22 1.39 2.03 - - 20.13 13.78 12.45 0.89 -66.64 - 1.67 BB- 11.06.2013 - - RIETER HOLDING AG-REG CHF 956 6 5 0 0 0 0 0.89 976 995 1068 1229 73 58 48 48 3.86 3.01 5.73 14.32 74.65 387.38 39.23 15.69 -12.32 -11.88 -59.79 -34.69 6.43 - - - - VALORA HOLDING AG-REG CHF 785 6 3 1 0 0 0 1.11 3130 3157 3173 3216 147 167 91 91 21.09 18.01 18.05 19.47 13.95 13.95 13.92 12.90 1.17 -0.83 13.72 6.26 5.81 - - - - BASELLANDS KANTONALBANK-CERT CHF 2341 0 2 4 0 0 1 623 611 - - - - 81.32 56.13 21.12 14.47 -3.17 -5.91 - - - AAA 21.11.2001 - - EMMI AG-REG CHF 1576 1 5 1 0 0 0 2.19 3276 3526 3571 3650 274 285 - - 21.80 19.01 20.31 21.60 17.03 17.04 15.94 14.99 10.50 4.58 12.42 12.42 8.89 - - - - BOSSARD HOLDING AG-BR CHF 804 10 3 0 0 0 0 0.95 518 518 661 708 64 64 89 89 14.56 14.56 16.82 17.35 15.18 15.18 13.14 12.74 3.23 -2.78 -3.69 -0.42 13.55 - - - - SCHWEITER TECHNOLOGIES AG-BR CHF 965 1 1 0 0 0 0 0.62 740 697 737 768 88 77 - - 29.85 25.12 27.49 33.77 29.23 30.91 26.72 21.75 -3.86 321.01 -4.52 33.94 12.17 - - - - U-BLOX AG CHF 528 10 6 0 0 0 0 0.46 190 220 242 280 41 - 48 48 2.99 3.55 4.21 4.93 25.93 26.25 21.84 18.67 42.68 25.38 26.89 33.00 - - - - - INFICON HOLDING AG-REG CHF 739 1 2 0 0 0 0 0.74 327 313 337 356 62 - - - 19.63 18.09 19.25 21.20 21.67 21.89 20.36 18.49 -5.24 7.09 -5.59 8.51 - - - - - SIEGFRIED HOLDING AG-REG CHF 610 4 4 0 0 0 0 0.58 404 424 424 436 54 61 63 63 7.27 8.01 10.50 13.38 22.01 22.73 16.80 13.18 13.28 6.35 35.65 -3.94 15.86 - - - - VZ HOLDING AG CHF 1325 0 8 0 0 0 0 1.11 169 183 194 224 77 85 56 56 7.57 8.44 9.06 10.57 21.57 21.65 20.09 17.21 7.48 11.76 6.48 12.61 51.20 - - - - AFG ARBONIA-FORSTER HOLD-REG CHF 629 18 18 0 0 0 0 0.90 1336 1294 1423 1437 120 118 128 128 -3.12 -2.38 2.04 2.93 - - 18.59 12.96 -4.30 -5.82 9.10 -7.13 10.05 - - - - BASLER KANTONALBK - PC CHF 2698 2 28 9 0 0 6 1057 1017 - - - - 8.03 7.66 12.36 14.34 3.07 -5.74 - - - AA 06.08.2013 - - INTERSHOP HOLDINGS AG-BR CHF 756 1 2 1 0 0 0 1.35 98 100 97 104 76 61 80 80 26.59 29.15 24.09 26.11 13.57 15.04 16.42 15.15 -0.41 -3.07 4.80 3.21 67.11 - - - - METALL ZUG AG-SHS B-REG CHF 1068 0 0 0 0 0 0 0.68 920 943 940 962 122 - 115 115 152.93 276.35 151.91 173.58 9.57 9.57 17.41 15.24 -0.75 2.91 -24.67 -2.51 - - - - - KUDELSKI SA-BR CHF 727 112 54 0 0 0 0 0.88 928 930 962 1002 113 128 134 134 0.33 0.73 1.04 1.18 20.39 20.35 14.34 12.60 -3.75 -1.13 15.97 -7.11 15.08 - - - - LEM HOLDING SA-REG CHF 788 0 1 0 0 0 0 0.76 258 258 288 313 54 - - - 31.51 31.53 35.32 43.27 24.09 24.09 21.51 17.56 -0.64 5.03 16.00 7.46 - - - - - KOMAX HOLDING AG-REG CHF 473 7 3 0 0 0 0 0.46 315 343 370 387 27 39 - - 3.66 5.44 9.59 10.71 27.44 27.95 15.56 13.94 -24.74 6.19 -60.21 -15.07 12.54 - - - - LIECHTENSTEIN LANDESBANK-BR CHF 1249 5 28 2 0 0 9 642 693 500 413 - - - - 3.65 1.79 3.60 3.86 24.88 24.88 12.36 11.55 5.75 -5.92 - - - - - - - ZEHNDER GROUP AG-BR CHF 520 13 12 0 0 0 0 0.42 576 567 572 591 62 47 - - 2.54 1.08 1.58 2.26 36.90 36.90 25.12 17.55 1.79 2.41 -19.46 0.19 9.15 - - - - VETROPACK HOLDING AG-BR CHF 824 0 0 0 0 0 0 0.78 664 669 674 696 128 - 140 140 224.18 144.78 145.20 156.65 15.27 - 15.22 14.11 2.80 -3.78 -10.43 -10.29 - - - - - Valuation Measures I/II Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  4. 4. 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot S&P 500 INDEX 2.38 2.38 2.21 2.03 2.38 1.52 1.52 1.45 1.39 1.52 10.59 10.59 9.57 8.75 10.59 9.47 9.47 8.73 8.18 9.47 15.38 15.38 13.86 12.53 15.38 2.07 2.07 2.25 2.40 2.07 1850.6 9.2% Euro Stoxx 50 Pr 1.32 1.32 1.25 1.18 1.32 0.85 0.85 0.82 0.80 0.85 6.58 6.58 6.05 5.47 6.59 7.60 7.60 7.20 6.82 7.60 13.07 13.07 11.69 10.51 13.07 3.90 3.90 4.10 4.45 3.90 3026.5 3.5% NIKKEI 225 1.56 1.56 1.46 1.37 1.56 0.75 0.75 0.72 0.70 0.75 9.20 9.20 8.49 7.30 9.20 9.07 9.07 8.30 7.80 9.07 18.36 18.36 16.37 14.74 18.36 1.59 1.59 1.74 1.88 1.59 15220.8 4.1% FTSE 100 INDEX 1.81 1.81 1.69 1.39 1.81 1.05 1.05 1.02 0.99 1.05 8.83 8.83 7.96 7.27 8.83 7.67 7.67 7.03 6.62 7.67 13.02 13.02 11.84 10.86 13.02 3.72 3.73 4.15 4.42 3.72 7099.2 8.5% SWISS MARKET INDEX 2.50 2.50 2.32 2.17 2.50 2.11 2.11 2.02 1.93 2.11 13.16 13.16 11.85 10.58 13.16 13.32 13.32 12.34 11.52 13.32 15.60 15.60 14.12 12.83 15.60 3.17 3.17 3.53 3.99 3.17 8666.5 7.5% S&P/TSX COMPOSITE INDEX 1.76 1.76 1.64 1.52 1.76 1.69 1.69 1.55 1.51 1.69 8.92 8.92 8.05 6.79 8.92 8.95 8.95 7.95 7.36 8.95 15.56 15.56 13.71 12.44 15.56 3.11 3.11 3.23 3.35 3.11 14299.7 11.1% S&P/ASX 200 INDEX 1.96 1.96 1.86 1.77 1.96 1.85 1.85 1.73 1.66 1.85 11.18 11.18 10.24 9.58 11.18 9.43 9.43 8.59 8.03 9.43 15.44 15.44 14.00 13.00 15.44 4.45 4.45 4.75 5.09 4.45 5383.9 2.0% HANG SENG INDEX 1.38 1.38 1.28 1.19 1.38 1.79 1.79 1.66 1.54 1.79 8.16 8.16 7.71 7.19 8.16 9.08 9.08 8.31 7.66 9.08 11.12 11.12 10.33 9.38 11.12 3.49 3.49 3.74 4.08 3.49 25126.2 8.3% MSCI EM 1.49 1.49 1.36 1.24 1.49 1.03 1.03 0.96 0.90 1.03 7.47 7.47 6.80 6.26 7.47 7.74 7.74 7.03 6.52 7.74 11.44 11.44 10.24 9.41 11.44 2.75 2.75 3.01 3.29 2.75 1124.6 11.3% NESTLE SA-REG 3.33 3.17 2.94 2.77 2.22 2.16 2.05 1.94 1.83 15.24 14.95 13.72 12.57 13.09 12.73 11.92 11.19 10.27 18.59 18.29 16.95 15.58 14.45 3.27 3.40 3.61 3.84 3.83 69.14 9.1% NOVARTIS AG-REG 2.65 2.58 2.46 2.35 2.08 3.69 3.63 3.53 3.42 3.32 12.92 12.83 12.14 10.93 10.69 13.03 13.26 12.64 11.89 11.46 14.71 15.00 13.83 12.71 12.13 3.17 3.27 3.42 3.64 3.90 74.21 6.5% ROCHE HOLDING AG-GENUSSCHEIN 12.83 9.97 7.92 6.53 5.18 4.63 4.44 4.28 4.14 4.03 15.67 13.49 12.49 11.60 11.71 12.59 11.22 10.65 10.14 9.61 17.81 16.19 15.08 14.11 13.32 3.01 3.29 3.57 3.85 4.17 270.95 11.2% UBS AG-REG 1.48 1.46 1.38 1.33 2.87 2.47 2.43 2.32 2.42 121.10 17.62 11.84 8.77 18.46 18.88 14.51 11.55 9.68 0.70 1.31 3.19 6.25 6.86 19.73 5.1% ABB LTD-REG 3.28 2.99 2.69 2.42 1.40 1.34 1.29 1.22 1.15 14.54 12.86 11.03 10.16 10.66 10.99 9.61 8.72 8.02 8.22 18.19 16.37 14.40 13.04 12.92 2.99 3.23 3.40 3.60 3.95 22.56 4.9% CIE FINANCIERE RICHEMON-REG 3.98 3.46 3.01 2.61 2.18 4.25 3.90 3.56 5.93 3.06 18.98 16.36 14.50 12.91 14.27 12.89 11.52 10.49 10.05 21.06 18.71 16.67 15.02 14.27 0.84 1.27 1.49 1.70 1.99 97.45 6.3% CREDIT SUISSE GROUP AG-REG 1.04 1.01 0.94 0.89 0.82 1.79 1.63 1.58 1.52 1.47 17.76 10.46 8.84 7.84 11.51 10.83 9.25 8.40 8.41 2.50 2.88 3.99 4.81 5.64 29.94 8.1% SYNGENTA AG-REG 4.57 3.88 3.50 3.14 2.71 2.57 2.40 2.27 2.16 15.62 15.55 13.73 12.57 13.07 12.58 11.38 10.53 10.07 18.74 17.80 15.80 14.41 13.55 2.25 2.62 2.91 3.13 3.35 412.22 10.0% ZURICH INSURANCE GROUP AG 1.13 1.13 1.09 1.04 1.00 0.62 0.65 0.64 0.64 0.55 11.57 9.51 8.87 8.56 8.46 7.18 6.98 7.08 7.15 7.08 263.19 12.8% SWISS RE AG 0.90 0.93 0.91 0.86 0.88 0.95 0.92 0.87 0.81 0.78 8.85 11.36 9.44 8.75 8.23 8.49 9.89 9.18 8.67 4.52 5.90 5.55 5.57 5.58 78.74 3.6% SWATCH GROUP AG/THE-BR 3.47 3.13 2.74 2.42 3.98 3.51 3.19 2.94 2.74 22.07 18.42 15.66 13.77 18.13 13.94 12.00 10.62 9.57 9.16 21.31 18.15 16.13 14.48 13.38 1.16 1.32 1.51 1.70 2.00 622.00 6.1% HOLCIM LTD-REG 1.27 1.25 1.17 1.08 0.91 1.02 1.07 1.02 0.96 0.87 7.22 6.89 6.00 5.25 4.06 8.54 8.42 7.30 6.52 5.57 19.82 16.97 12.82 10.37 7.00 1.59 1.97 2.55 3.15 3.68 73.22 7.8% TRANSOCEAN LTD 1.04 1.01 0.95 0.88 1.68 1.70 1.56 1.48 1.45 6.31 6.49 5.20 4.72 4.65 6.94 6.81 5.67 5.24 5.11 12.85 11.22 8.40 7.56 6.86 1.11 4.10 5.09 5.24 50.55 24.4% SGS SA-REG 7.95 7.40 6.60 5.85 3.08 2.82 2.61 2.41 2.22 18.60 16.67 14.55 13.18 12.43 15.26 13.61 11.97 10.89 10.37 26.56 24.51 21.37 19.03 17.49 2.90 2.89 3.02 3.20 2.78 2272.60 4.3% WEATHERFORD INTL LTD 1.25 1.32 1.18 1.02 0.78 0.72 0.66 0.61 7.47 6.37 4.66 4.17 7.55 7.07 5.82 5.14 23.95 18.41 11.73 8.87 0.00 0.00 0.00 0.00 15.90 15.2% SWISSCOM AG-REG 4.55 4.43 4.07 3.75 2.01 1.99 1.98 1.96 1.99 6.42 6.01 6.00 5.96 7.22 7.40 7.29 7.19 7.04 13.07 14.03 13.78 13.50 13.62 5.02 5.03 5.11 5.25 5.42 434.84 -0.8% GIVAUDAN-REG 3.33 3.34 3.24 3.15 2.91 2.76 2.64 2.52 2.44 17.45 14.73 13.73 12.46 12.10 15.57 13.83 12.85 12.11 11.83 24.35 21.95 19.90 18.38 16.48 1.94 3.15 3.54 3.94 4.18 1296.11 -2.3% JULIUS BAER GROUP LTD 1.81 1.92 1.83 1.71 5.44 4.28 3.60 3.27 3.28 21.09 20.41 13.93 11.55 20.73 18.12 14.72 12.27 17.45 1.44 1.50 1.76 2.30 43.39 2.3% GEBERIT AG-REG 6.62 5.77 5.27 4.89 4.19 4.01 3.83 3.63 3.65 18.63 16.83 15.91 15.14 14.77 16.30 15.32 14.43 13.48 12.46 23.41 21.47 20.10 18.73 17.83 2.71 2.97 3.19 3.38 2.53 235.83 -2.6% ADECCO SA-REG 2.56 2.55 2.39 2.15 1.73 0.48 0.51 0.48 0.45 0.41 15.53 15.35 12.73 10.98 11.77 12.79 12.68 10.50 9.03 7.94 18.83 18.38 14.66 12.22 10.24 2.61 2.88 3.25 3.79 3.87 66.03 2.7% ACTELION LTD-REG 4.77 5.00 4.21 3.44 2.85 4.46 4.36 4.20 4.06 4.22 18.70 14.49 13.44 12.32 12.59 12.66 11.74 11.05 10.25 11.57 17.34 17.40 16.26 14.40 15.08 1.21 1.62 1.75 1.82 1.99 67.67 5.6% KUEHNE & NAGEL INTL AG-REG 5.99 5.72 5.28 4.88 4.48 0.85 0.82 0.79 0.69 0.62 20.35 17.93 16.06 14.80 14.30 15.29 13.91 12.71 11.82 11.07 25.56 23.55 20.97 19.41 17.85 3.03 3.19 3.50 3.80 4.32 114.31 -5.4% SCHINDLER HOLDING-PART CERT 5.05 5.02 4.32 3.72 1.86 1.76 1.65 1.56 1.48 19.41 18.83 15.38 13.90 12.05 11.91 11.07 10.09 9.11 22.89 22.50 19.68 17.80 16.36 1.66 1.64 1.90 2.10 2.08 141.78 5.2% SONOVA HOLDING AG-REG 4.71 4.02 3.50 3.09 4.13 3.87 3.62 3.38 3.21 28.81 17.78 16.00 14.28 20.86 14.84 13.26 12.06 10.61 24.79 20.63 18.28 16.51 14.07 1.20 1.55 1.67 2.00 2.07 111.90 0.3% SIKA AG-BR 3.48 3.10 2.80 2.54 1.40 1.32 1.22 1.14 1.06 15.95 13.70 12.11 11.09 12.49 11.08 9.95 9.06 8.38 23.51 20.45 17.69 15.68 14.31 1.80 2.12 2.37 2.53 2572.67 -3.9% SWATCH GROUP AG/THE-REG 2.99 2.81 2.43 3.97 3.57 3.30 14.17 12.12 11.09 18.72 15.78 14.40 1.27 1.46 1.66 125.50 22.6% ARYZTA AG 1.85 1.71 1.59 1.51 1.35 1.05 0.98 0.93 0.89 0.85 10.19 8.18 7.02 6.53 4.08 10.42 9.63 8.73 8.21 7.70 14.02 13.36 12.04 10.84 9.81 1.08 1.13 1.26 1.40 1.52 64.96 11.7% SWISS LIFE HOLDING AG-REG 0.57 0.62 0.60 0.57 0.58 0.32 0.30 0.31 0.28 0.28 9.64 7.74 8.01 7.62 6.64 2.62 2.73 2.87 3.15 4.02 183.67 5.4% CLARIANT AG-REG 1.54 1.59 1.51 1.39 0.69 0.82 0.79 0.75 0.70 10.26 9.35 7.32 6.35 8.50 8.57 7.67 6.97 6.72 16.24 14.52 12.36 10.60 10.00 1.87 2.31 2.67 3.09 2.62 16.14 5.6% BALOISE HOLDING AG - REG 1.10 0.99 0.95 0.94 0.55 0.62 0.60 0.65 11.26 9.86 9.64 9.71 4.64 4.85 4.94 4.95 103.82 2.3% LINDT & SPRUENGLI AG-REG 5.66 4.73 4.35 4.21 3.42 3.18 2.97 2.78 2.55 27.15 23.68 21.28 18.48 18.31 16.58 15.19 13.97 12.70 34.48 31.84 28.87 26.01 1.34 1.51 1.67 1.83 39373.33 -8.1% SWISS PRIME SITE-REG 1.07 1.03 1.02 1.01 9.95 6.20 6.24 6.23 9.00 20.06 15.05 16.29 16.82 17.82 22.01 23.02 22.08 21.65 22.26 19.20 19.21 18.69 17.83 17.82 5.18 5.18 5.18 5.18 5.18 67.00 -3.6% PARTNERS GROUP HOLDING AG 9.44 7.01 6.08 5.48 14.06 12.10 10.65 9.43 8.25 22.43 91.27 19.49 13.82 23.07 20.00 17.42 15.31 13.78 23.12 20.70 17.86 15.62 2.65 3.13 3.54 3.93 241.67 8.1% LONZA GROUP AG-REG 1.60 1.63 1.52 1.39 1.02 1.02 0.97 0.92 0.88 6.28 6.91 6.10 5.36 9.84 9.67 8.56 7.81 7.04 17.90 15.20 12.52 11.05 9.94 2.76 2.91 3.16 3.44 4.10 72.40 -2.8% GALENICA AG-REG 3.74 3.24 2.86 2.56 2.23 1.41 1.42 1.36 1.30 1.21 17.03 14.39 14.10 12.98 10.82 13.78 12.73 12.51 11.45 9.66 20.80 17.53 17.12 15.67 12.32 1.22 1.60 1.66 1.84 2.53 737.33 -4.8% DUFRY AG-REG 3.15 2.93 2.59 2.25 1.28 1.12 0.99 0.90 0.79 11.33 12.75 11.38 9.02 12.10 11.28 9.50 8.40 7.46 15.93 21.48 16.17 13.32 12.14 0.00 0.00 0.05 0.34 146.27 6.7% LINDT & SPRUENGLI AG-PC 5.14 3.97 3.64 3.33 3.42 3.17 2.96 2.77 2.56 24.10 27.85 23.89 17.54 18.48 16.71 15.29 14.06 12.74 30.74 27.77 25.42 23.18 19.32 1.52 1.76 1.94 2.13 4008.00 8.6% SULZER AG-REG 2.08 1.93 1.76 1.59 1.21 1.16 1.09 1.01 0.94 10.44 12.51 11.12 9.96 9.06 9.51 8.05 7.07 6.41 15.11 17.11 13.75 11.70 10.70 2.22 2.19 2.55 2.92 147.82 6.3% PSP SWISS PROPERTY AG-REG 1.01 0.95 0.94 0.94 13.44 13.18 12.99 12.73 11.85 22.56 22.30 22.51 22.54 24.22 24.38 23.63 23.46 22.94 21.74 22.38 21.94 22.14 21.89 20.52 3.87 4.11 4.19 4.24 4.26 87.03 10.2% SCHINDLER HOLDING AG-REG 4.90 4.86 4.19 3.60 1.86 1.76 1.65 1.56 1.48 18.82 18.26 14.92 13.48 12.05 11.91 11.07 10.09 9.11 22.19 21.82 19.08 17.26 15.86 1.79 1.93 2.08 2.27 143.25 9.6% GAM HOLDING AG 1.37 1.33 1.25 1.17 5.09 4.25 4.04 3.69 3.61 18.65 12.58 12.03 10.92 19.17 13.27 12.45 10.91 3.01 3.75 4.31 4.73 18.85 13.6% HELVETIA HOLDING AG-REG 0.98 0.95 0.90 0.84 0.48 0.46 0.44 0.43 10.57 10.11 9.76 9.45 4.17 4.30 4.45 4.68 418.67 2.7% FISCHER (GEORG)-REG 1.81 2.04 1.84 1.67 0.63 0.61 0.59 0.57 0.53 7.27 7.28 7.51 6.82 7.56 7.34 6.71 6.34 5.76 15.29 14.24 12.49 11.63 10.61 2.15 2.65 2.92 3.20 3.25 538.13 -3.0% EMS-CHEMIE HOLDING AG-REG 6.55 6.45 6.10 5.78 4.23 3.94 3.74 3.58 3.27 27.47 20.08 19.39 18.54 19.46 17.47 16.58 15.87 13.75 28.93 25.31 24.65 23.67 20.26 2.37 3.13 3.35 3.49 262.67 -17.2% BARRY CALLEBAUT AG-REG 3.38 2.68 2.51 2.27 1.04 0.99 0.80 0.75 0.69 14.75 13.80 14.21 12.54 13.77 13.59 11.25 10.06 9.07 18.89 21.02 17.65 15.12 13.28 1.59 1.75 1.91 2.11 2.59 882.14 -1.7% OC OERLIKON CORP AG-REG 2.17 2.00 1.84 1.70 1.41 1.38 1.33 1.29 1.27 9.25 10.88 9.90 9.26 9.04 6.96 7.50 6.75 6.33 6.32 18.25 18.09 15.63 14.40 14.82 1.90 2.28 2.40 2.64 2.85 13.69 11.3% DKSH HOLDING LTD 4.47 3.78 3.38 3.02 2.58 0.58 0.50 0.46 0.42 0.40 25.06 20.30 18.08 16.23 18.01 15.45 13.83 12.21 10.89 9.58 28.21 24.13 21.64 19.37 17.37 1.08 1.28 1.51 1.56 1.85 80.91 4.0% PARGESA HOLDING SA-BR 0.74 0.76 0.76 0.73 1.00 11.83 19.01 19.79 17.03 25.15 13.28 10.26 46.07 51.23 36.46 33.83 44.29 15.57 12.48 10.82 3.32 3.90 4.08 4.35 70.10 2.1% FLUGHAFEN ZUERICH AG-REG 1.60 1.51 1.40 1.31 3.12 3.03 2.99 2.89 9.47 8.28 6.87 6.38 7.94 7.71 7.69 7.39 16.59 19.24 14.71 13.57 1.84 2.05 2.39 2.65 515.42 7.4% PANALPINA WELTTRANSPORT -REG 3.79 4.03 3.70 3.31 2.90 0.48 0.44 0.42 0.40 0.40 55.65 27.70 18.79 15.18 13.06 20.52 16.99 13.67 11.05 8.69 44.93 38.69 28.39 21.56 15.02 0.97 1.44 1.62 2.03 2.71 119.95 -9.8% Price to Earnings Ratio Valuation Measures II/II Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  5. 5. 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot S&P 500 INDEX 2.38 2.38 2.21 2.03 2.38 1.52 1.52 1.45 1.39 1.52 10.59 10.59 9.57 8.75 10.59 9.47 9.47 8.73 8.18 9.47 15.38 15.38 13.86 12.53 15.38 2.07 2.07 2.25 2.40 2.07 1850.6 9.2% Euro Stoxx 50 Pr 1.32 1.32 1.25 1.18 1.32 0.85 0.85 0.82 0.80 0.85 6.58 6.58 6.05 5.47 6.59 7.60 7.60 7.20 6.82 7.60 13.07 13.07 11.69 10.51 13.07 3.90 3.90 4.10 4.45 3.90 3026.5 3.5% NIKKEI 225 1.56 1.56 1.46 1.37 1.56 0.75 0.75 0.72 0.70 0.75 9.20 9.20 8.49 7.30 9.20 9.07 9.07 8.30 7.80 9.07 18.36 18.36 16.37 14.74 18.36 1.59 1.59 1.74 1.88 1.59 15220.8 4.1% FTSE 100 INDEX 1.81 1.81 1.69 1.39 1.81 1.05 1.05 1.02 0.99 1.05 8.83 8.83 7.96 7.27 8.83 7.67 7.67 7.03 6.62 7.67 13.02 13.02 11.84 10.86 13.02 3.72 3.73 4.15 4.42 3.72 7099.2 8.5% SWISS MARKET INDEX 2.50 2.50 2.32 2.17 2.50 2.11 2.11 2.02 1.93 2.11 13.16 13.16 11.85 10.58 13.16 13.32 13.32 12.34 11.52 13.32 15.60 15.60 14.12 12.83 15.60 3.17 3.17 3.53 3.99 3.17 8666.5 7.5% S&P/TSX COMPOSITE INDEX 1.76 1.76 1.64 1.52 1.76 1.69 1.69 1.55 1.51 1.69 8.92 8.92 8.05 6.79 8.92 8.95 8.95 7.95 7.36 8.95 15.56 15.56 13.71 12.44 15.56 3.11 3.11 3.23 3.35 3.11 14299.7 11.1% S&P/ASX 200 INDEX 1.96 1.96 1.86 1.77 1.96 1.85 1.85 1.73 1.66 1.85 11.18 11.18 10.24 9.58 11.18 9.43 9.43 8.59 8.03 9.43 15.44 15.44 14.00 13.00 15.44 4.45 4.45 4.75 5.09 4.45 5383.9 2.0% HANG SENG INDEX 1.38 1.38 1.28 1.19 1.38 1.79 1.79 1.66 1.54 1.79 8.16 8.16 7.71 7.19 8.16 9.08 9.08 8.31 7.66 9.08 11.12 11.12 10.33 9.38 11.12 3.49 3.49 3.74 4.08 3.49 25126.2 8.3% MSCI EM 1.49 1.49 1.36 1.24 1.49 1.03 1.03 0.96 0.90 1.03 7.47 7.47 6.80 6.26 7.47 7.74 7.74 7.03 6.52 7.74 11.44 11.44 10.24 9.41 11.44 2.75 2.75 3.01 3.29 2.75 1124.6 11.3% NOBEL BIOCARE HOLDING AG-REG 4.48 3.86 3.50 3.17 2.35 2.39 2.30 2.19 2.04 17.11 20.11 15.30 13.96 9.98 12.88 13.45 11.87 10.83 10.72 30.94 28.09 24.08 20.57 14.96 1.34 1.58 1.86 2.04 2.71 11.26 -16.3% BUCHER INDUSTRIES AG-REG 2.55 2.27 2.01 1.79 0.92 0.89 0.86 0.83 0.86 10.23 9.32 8.52 8.08 8.30 8.70 7.84 7.41 7.03 6.92 15.33 13.51 12.63 11.75 11.54 1.98 2.32 2.51 2.65 2.99 250.38 7.0% KABA HOLDING AG-REG B 2.56 2.36 2.17 1.99 1.60 1.55 1.50 1.43 1.38 13.26 12.68 11.75 8.66 10.13 9.39 8.68 7.93 7.26 19.12 17.23 15.54 13.66 11.85 2.41 2.74 2.94 3.33 3.63 388.33 -2.9% STRAUMANN HOLDING AG-REG 3.89 3.82 3.36 3.17 3.72 3.80 3.69 3.21 2.86 24.76 19.17 16.56 14.70 11.69 18.86 16.28 14.44 11.62 10.02 31.29 23.23 20.72 17.52 15.05 1.77 2.08 2.25 2.46 2.09 160.82 -2.5% TEMENOS GROUP AG-REG 4.55 4.10 3.58 3.08 4.02 3.76 3.51 3.23 2.95 22.64 16.81 15.86 13.46 16.52 13.94 12.15 10.74 9.75 29.56 21.76 18.58 15.81 13.39 0.00 1.36 1.50 1.69 2.50 24.23 8.2% BANQUE CANTONALE VAUDOIS-REG 1.22 1.27 1.27 1.26 4.22 4.27 4.13 4.01 3.76 10.94 11.13 11.04 10.65 14.10 14.45 13.98 13.05 6.46 6.63 6.80 6.95 506.00 2.2% VALIANT HOLDING AG-REG 0.72 0.68 0.62 0.57 3.59 3.57 3.59 3.43 3.29 12.07 12.62 12.84 11.81 3.64 3.64 3.64 3.96 100.00 13.8% KUONI REISEN HLDG-REG(CAT B) 1.80 1.81 1.65 1.50 0.25 0.25 0.31 0.29 0.23 8.77 9.16 6.97 6.21 7.07 6.13 5.39 4.87 4.15 15.94 15.39 12.47 11.19 8.39 1.05 1.09 1.83 2.15 3.31 387.75 6.2% ALLREAL HOLDING AG-REG 1.05 1.02 0.99 0.97 8.19 7.21 6.98 6.87 17.88 14.39 16.25 16.07 22.29 19.36 18.40 17.67 17.80 17.11 15.80 14.74 4.35 4.37 4.74 4.73 140.00 11.3% LOGITECH INTERNATIONAL-REG 1.81 1.86 1.76 1.62 0.73 0.75 0.74 0.73 0.70 13.33 14.57 11.85 10.37 11.55 10.04 8.32 7.89 41.54 27.02 18.44 15.07 4.81 2.50 2.71 2.86 6.99 -13.1% LUZERNER KANTONALBANK AG-REG 1.45 1.39 1.33 1.28 7.20 7.18 7.02 6.86 16.46 15.96 15.14 14.67 16.71 16.65 16.16 15.64 3.05 3.05 3.05 3.33 MOBIMO HOLDING AG-REG 0.98 0.95 0.95 0.94 9.53 9.48 9.69 9.06 9.30 19.44 21.85 21.73 21.38 21.90 23.14 21.86 23.91 23.99 23.30 23.69 21.29 22.28 22.76 21.90 4.77 4.77 4.77 4.77 4.77 210.00 11.2% TECAN GROUP AG-REG 3.53 3.18 2.87 2.53 2.80 2.71 2.47 2.20 1.97 29.88 14.20 12.50 11.36 15.55 14.10 12.36 10.18 8.52 23.62 22.97 19.36 15.40 12.23 1.35 1.57 1.81 2.11 2.42 104.17 8.1% BERNER KANTONALBANK AG-REG BELIMO HOLDING AG-REG 5.53 4.87 4.37 3.92 3.21 2.97 2.74 2.53 2.30 18.59 15.92 14.54 13.57 14.83 13.08 11.95 10.84 9.52 23.28 20.39 18.51 17.01 2.42 2.88 3.17 3.51 3.87 2305.00 -0.8% BURCKHARDT COMPRESSION HOLDI 3.64 3.25 2.96 2.80 3.16 2.79 2.56 2.41 2.37 15.83 14.89 14.26 13.65 12.50 11.93 10.42 9.33 9.44 21.43 20.22 17.45 16.03 14.87 2.43 2.94 3.46 3.83 351.80 -1.7% AMS AG 2.23 2.09 1.82 1.58 2.62 2.61 2.32 2.12 1.98 8.59 11.51 9.11 8.35 8.27 10.40 8.24 7.24 7.37 11.02 15.78 11.64 9.72 9.05 1.65 1.80 2.11 2.69 89.26 3.5% FORBO HOLDING AG-REG 1.76 1.59 1.47 1.35 1.30 1.29 1.27 1.24 1.24 10.08 9.21 8.58 8.05 7.89 8.27 7.83 7.54 7.31 16.60 15.12 13.87 12.98 10.98 1.78 1.91 2.02 2.26 2.34 715.00 4.5% ST GALLER KANTONALBANK A-REG 1.06 1.02 0.98 0.94 4.25 4.14 4.38 4.28 12.12 11.20 11.35 11.14 13.11 12.49 12.22 11.97 4.10 4.10 4.28 4.78 380.00 3.8% GRAUBUENDNER KANTONALBANK-PC 1.42 1.30 1.24 7.71 7.69 7.46 1.65 1.70 1.62 15.55 15.44 14.62 3.19 3.53 3.53 MEYER BURGER TECHNOLOGY AG 0.87 1.26 1.37 1.35 1.33 2.55 1.64 1.22 182.64 22.62 6701.73 44.49 10.13 215.11 0.00 0.00 0.00 0.00 7.42 -23.4% DAETWYLER HOLDING AG-BR 2.61 2.78 2.42 2.12 1.40 1.37 1.29 2.46 12.74 10.66 8.09 7.75 10.18 9.31 8.27 7.59 16.40 15.06 12.50 11.30 2.05 2.30 2.67 2.94 125.00 10.3% VONTOBEL HOLDING AG-REG 1.42 1.39 1.33 1.28 2.94 2.58 2.42 2.25 2.17 13.35 10.85 9.80 9.11 17.32 14.35 12.33 11.16 3.33 3.86 4.13 4.62 34.36 -2.1% EFG INTERNATIONAL AG 1.58 1.46 1.32 1.24 1.15 2.33 2.58 2.53 2.28 2.17 12.52 11.00 9.30 15.54 13.41 11.89 9.94 9.37 0.91 1.86 2.65 3.76 5.38 13.65 7.9% BASILEA PHARMACEUTICA-REG 1.65 11.70 14.37 3.82 12.42 17.23 12.36 7.09 4.14 3.94 5.34 90.26 7.06 307.71 6.62 0.00 0.00 0.00 90.00 21.9% IMPLENIA AG-REG 1.91 1.73 1.57 1.45 0.38 0.35 0.33 0.33 7.51 6.32 6.24 5.83 5.66 5.13 4.83 4.69 14.95 12.67 11.70 10.97 2.21 2.72 2.90 3.17 65.00 17.8% HUBER & SUHNER AG-REG 1.60 1.53 1.46 1.38 1.38 1.30 1.23 1.18 19.23 10.11 10.66 10.08 12.58 9.17 8.15 7.64 40.17 21.71 17.76 16.25 1.15 1.83 2.17 2.33 50.00 5.0% ZUGER KANTONALBANK-BR SCHWEIZERISCHE NATL-V AG-REG 1.05 0.99 0.94 0.90 0.57 0.58 0.56 0.57 8.78 8.99 8.49 7.60 4.51 4.62 4.88 5.14 46.80 12.5% GATEGROUP HOLDING AG 1.32 2.28 1.98 1.74 0.21 0.20 0.20 0.19 0.19 5.58 5.33 4.96 4.63 5.37 5.43 4.91 4.56 4.56 15.66 18.31 12.54 11.59 1.94 1.05 1.93 2.43 22.00 -5.0% RIETER HOLDING AG-REG 2.32 2.25 2.01 1.82 1.00 0.89 0.78 0.74 0.75 13.81 14.80 10.54 8.80 12.40 10.22 6.04 5.22 5.34 50.43 35.69 14.28 11.68 12.58 1.25 1.10 2.36 2.69 206.43 10.9% VALORA HOLDING AG-REG 1.26 1.21 1.16 1.11 0.25 0.25 0.24 0.24 0.24 6.96 5.86 5.68 5.19 5.71 8.88 7.08 6.77 6.29 6.12 12.65 12.67 11.74 10.00 9.62 4.92 6.19 6.53 7.39 8.17 194.67 -6.4% BASELLANDS KANTONALBANK-CERT EMMI AG-REG 1.47 1.34 1.24 1.16 0.48 0.44 0.43 0.42 6.18 6.46 6.14 5.93 7.87 7.56 7.30 7.10 14.93 14.50 13.64 12.82 1.34 1.42 1.51 1.56 278.33 3.9% BOSSARD HOLDING AG-BR 4.29 4.18 3.44 2.90 1.53 1.22 1.90 1.07 1.01 11.89 10.80 9.79 9.20 8.74 14.74 10.66 9.92 9.39 7.94 15.11 11.96 11.59 11.03 9.70 2.65 3.10 3.36 3.58 4.12 167.50 -8.5% SCHWEITER TECHNOLOGIES AG-BR 1.33 1.35 1.37 1.32 1.22 1.31 1.26 1.19 10.41 12.68 12.25 12.02 7.05 7.93 7.05 6.49 15.84 24.31 19.79 17.20 6.58 5.35 4.56 4.61 625.00 2.8% U-BLOX AG 3.29 2.85 2.52 2.22 2.85 2.18 1.89 1.68 31.10 15.65 13.18 11.98 13.29 9.52 8.22 7.28 29.50 19.87 16.99 14.99 1.22 1.48 1.64 1.80 84.00 10.2% INFICON HOLDING AG-REG 3.69 4.02 3.91 3.79 2.51 2.43 2.30 2.22 13.92 15.20 13.15 11.90 12.15 11.26 10.32 10.03 19.45 18.53 16.83 16.35 4.70 5.43 5.68 5.57 316.25 7.8% SIEGFRIED HOLDING AG-REG 1.48 1.61 1.58 1.45 1.53 1.44 1.40 1.33 14.07 10.71 8.69 7.11 12.39 9.23 7.05 6.00 26.59 15.29 12.00 12.15 0.68 1.62 2.17 2.40 150.00 2.7% VZ HOLDING AG 5.20 4.48 3.67 3.14 8.15 6.83 5.92 5.20 4.10 22.06 17.31 15.02 13.25 15.42 12.18 10.50 6.50 23.51 18.28 15.66 13.52 1.68 2.06 2.39 2.65 153.00 1.5% AFG ARBONIA-FORSTER HOLD-REG 1.36 1.27 1.19 1.10 0.44 0.44 0.44 0.42 0.42 6.00 5.93 5.19 4.80 7.79 7.03 6.21 5.68 5.26 34.39 16.92 11.80 9.52 8.85 0.00 1.67 2.30 2.96 3.60 35.00 11.5% BASLER KANTONALBK - PC INTERSHOP HOLDINGS AG-BR 1.26 1.22 1.20 1.19 7.81 7.75 7.30 7.69 14.71 14.64 13.76 14.77 16.99 16.93 15.72 16.71 15.59 14.94 13.78 14.80 5.95 5.95 6.11 6.11 METALL ZUG AG-SHS B-REG 1.29 1.35 1.27 1.28 1.17 1.14 1.11 1.10 5.99 5.94 5.42 5.28 20.22 15.84 13.87 13.93 2.51 2.51 2.51 2.51 2400.00 9.6% KUDELSKI SA-BR 1.54 1.42 1.28 1.17 0.77 0.76 1.30 1.27 6.42 6.68 6.11 5.51 8.61 6.61 6.15 5.92 16.25 13.04 11.46 10.71 0.90 1.34 1.56 1.71 12.38 0.7% LEM HOLDING SA-REG 8.53 8.54 2.99 2.74 2.52 2.37 17.09 16.54 15.16 14.49 12.82 12.27 10.47 9.71 19.12 19.57 15.97 14.90 4.40 4.64 5.94 5.86 KOMAX HOLDING AG-REG 1.68 1.58 1.45 1.34 1.51 1.28 1.22 1.19 15.06 9.87 9.79 8.66 16.31 7.83 7.60 7.21 28.17 14.16 12.69 11.68 1.67 2.19 2.74 2.91 138.00 11.7% LIECHTENSTEIN LANDESBANK-BR 0.66 0.64 0.61 2.50 3.02 2.91 11.57 8.02 6.64 11.25 10.51 8.29 4.07 4.61 5.69 ZEHNDER GROUP AG-BR 1.55 1.51 1.42 1.31 0.74 0.74 1.20 0.68 0.66 6.35 8.85 7.02 6.07 6.26 7.67 7.18 5.95 5.53 12.02 22.85 15.97 12.50 7.41 2.75 1.83 2.09 2.54 2.80 37.00 -8.2% VETROPACK HOLDING AG-BR 1.18 1.12 1.05 0.97 1.24 1.22 1.18 3.09 6.39 6.13 5.51 5.10 5.99 5.58 5.20 4.85 14.50 13.85 12.84 11.79 2.51 1.89 2.03 2.15 1925.00 5.2% Price to Earnings Ratio Valuation Measures II/II Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  6. 6. Currency Price to Book Ratio Positive Net Income Positive Operati ng Cash Flow Increasi ng ROA Quality of Earning s Long Term Debt vs. Assets Current ratio Shares Out - Same or Dec. Inc. Gross Margin Inc. Asset Turnov er Pitroski F Score Tangiable Assets Working Captial Retained Earnings Trailing 12M Operating Inc (Loss) Market Cap Total Liabilities Net Sales (T12M) Total Shareholder s Equity Altman Z Score Altman Z Score Bankruptcy flag PE PE < 40 Price to Sales Price To Sales < 10 Price to Book Price to Book < 10 Price to Cash Flow Price to Cash Flow < 10 Dividen d Yield Div Yield > 7% Final Score PEG < 0.75 PE < 20 EPS Growth > 15% Relative Strength > 0 ROCE > 12% Market Cap > 20m Market < 1000m FINAL SCORE NESTLE SA-REG CHF 3.1 1 1 1 1 0 0 0 0 1 5 80337 -3934 60685 13388 190038 62987 89931 62664 4.66 1.00 18.6 1 2 1 3 1 12 0 3.4396 0 3 0 1 0 1 1 1 1 5 NOVARTIS AG-REG CHF 2.2 1 1 1 1 1 1 0 0 0 6 62795 3953 68092 11794 152316 54997 56673 69219 5.22 1.00 16.0 1 3 1 2 1 11 0 3.9889 0 3 0 1 0 1 1 1 1 5 ROCHE HOLDING AG-GENUSSCHEIN CHF 11.0 1 1 0 1 1 0 1 1 1 7 53111 11162 14334 16979 158712 48077 45499 16728 5.56 1.00 16.4 1 3 1 11 0 12 0 3.9946 0 2 0 1 0 1 1 1 1 5 UBS AG-REG CHF 1.2 0 1 0 1 0 - 0 - 0 2 1252770 - 11614 1612 53475 1208983 37754 50249 - - - - 1 1 1 1 1 1 1.0512 0 3 - - - 1 - 1 1 3 ABB LTD-REG CHF 2.8 1 1 0 1 0 1 0 0 0 4 35343 9028 15215 4112 47151 31624 39336 17446 3.71 1.00 17.4 1 1 1 3 1 12 0 3.3111 0 3 0 1 0 1 1 1 1 5 CIE FINANCIERE RICHEMON-REG CHF 3.3 1 1 1 0 0 0 0 1 0 4 14106 7097 9882 2434 33871 4282 10150 10215 7.62 1.00 16.7 1 3 1 3 1 21 0 1.3114 0 3 0 1 1 1 1 1 1 6 CREDIT SUISSE GROUP AG-REG CHF 0.8 1 0 0 0 0 - 0 - 0 1 915648 - 11809 1573 28800 881996 38313 42284 - - 27.1 1 1 1 1 1 - - 3.3693 0 3 0 0 0 1 - 1 1 3 SYNGENTA AG-REG CHF 4.2 1 1 1 0 1 0 0 1 1 6 15900 4537 5302 2550 36836 10645 14202 8756 3.87 1.00 19.7 1 3 1 4 1 27 0 2.5851 0 3 0 1 1 1 1 1 1 6 ZURICH INSURANCE GROUP AG CHF 1.1 1 1 0 0 1 - 0 - 1 4 399712 - 26311 5872 39176 372405 70446 36862 - - 10.1 1 1 1 1 1 11 0 6.8244 0 3 0 1 0 1 - 1 1 4 SWISS RE AG CHF 0.7 1 1 1 1 0 - 0 - 1 5 211693 - 25144 5751 24770 181759 33116 34026 - - 6.1 1 1 1 1 1 6 1 3.8099 0 4 - 1 1 1 - 1 1 5 SWATCH GROUP AG/THE-BR CHF 2.7 1 1 1 0 1 1 0 - 1 6 10607 6623 9200 1984 24909 1878 7796 9344 11.25 1.00 15.6 1 2 1 3 1 14 0 1.4636 0 3 0 1 1 1 1 1 1 6 HOLCIM LTD-REG CHF 1.3 1 1 1 1 1 0 0 0 1 6 33173 -36 7722 1816 21766 21593 21544 19838 1.74 1.00 34.8 1 1 1 1 1 8 1 1.719 0 4 0 0 1 1 0 1 1 4 TRANSOCEAN LTD CHF - 0 1 1 1 1 1 - 1 1 7 31268 3184 3094 1685 - 18525 9196 15730 1.53 1.00 - - - - - - - - - - 0 - - - 1 0 1 1 3 SGS SA-REG CHF 7.5 1 1 0 0 1 0 0 - 1 4 3749 1298 2052 843 15463 2876 5578 2118 6.73 1.00 27.8 1 3 1 8 1 31 0 2.8628 0 3 0 0 0 1 1 1 1 4 WEATHERFORD INTL LTD CHF - 0 1 0 1 0 0 - 0 1 3 18158 3319 3337 1163 - 13977 15215 8818 1.98 1.00 - - - - - - - - - - 0 - - - 1 - 1 1 3 SWISSCOM AG-REG CHF 4.9 1 1 1 1 1 0 1 - 1 7 12363 -360 3944 2157 20399 15938 11384 4156 2.56 1.00 11.6 1 2 1 5 1 5 1 5.5866 0 4 - 1 1 1 1 1 1 6 GIVAUDAN-REG CHF 2.4 1 1 1 1 1 1 0 0 1 7 3895 1210 3588 608 8768 2670 4257 3680 5.27 1.00 21.3 1 2 1 2 1 13 0 3.7383 0 3 0 0 1 1 1 1 1 5 JULIUS BAER GROUP LTD CHF 1.4 1 1 1 1 1 - 0 - 0 5 53232 - 4867 374 6922 49994 2029 4874 - - 22.0 1 3 1 1 1 8 1 1.8559 0 4 - 0 1 1 - 1 1 4 GEBERIT AG-REG CHF 5.3 1 1 1 1 0 1 1 - 1 7 1369 487 1427 462 7570 576 1920 1431 13.72 1.00 19.6 1 4 1 5 1 16 0 1.8868 0 3 0 1 0 1 1 1 1 5 ADECCO SA-REG CHF 2.0 1 1 0 1 0 1 0 1 0 5 5527 1032 1962 673 7347 5915 20536 3699 5.88 1.00 19.9 1 0 1 2 1 13 0 - - 3 0 1 0 1 1 1 1 5 ACTELION LTD-REG CHF 3.2 1 1 1 1 0 0 1 1 1 7 2450 1171 512 421 4916 1176 1722 1519 5.57 1.00 16.7 1 3 1 3 1 9 1 1.8378 0 4 0 1 - 1 1 1 1 5 KUEHNE & NAGEL INTL AG-REG CHF 5.5 1 1 0 1 1 1 0 0 1 6 5444 831 1727 706 13171 3854 17120 2425 6.26 1.00 27.1 1 1 1 5 1 23 0 3.1818 0 3 0 0 0 1 1 1 1 4 SCHINDLER HOLDING-PART CERT CHF 5.5 1 1 1 1 1 1 1 - 1 8 7018 1842 2768 985 15265 5009 8258 2813 4.34 1.00 21.8 1 2 1 5 1 20 0 1.6667 0 3 0 0 1 1 1 1 1 5 SONOVA HOLDING AG-REG CHF 4.8 1 1 0 1 1 1 0 1 0 6 1481 615 1604 157 7646 1046 1795 1635 7.96 1.00 68.6 1 4 1 5 1 20 0 1.4047 0 3 0 0 0 1 1 1 1 4 SIKA AG-BR CHF 2.7 1 1 1 1 1 0 1 - 1 7 3520 1454 1788 429 5360 2255 4829 2007 4.72 1.00 16.1 1 1 1 3 1 11 0 2.4171 0 3 - 1 1 1 1 1 1 6 SWATCH GROUP AG/THE-REG CHF - 1 1 1 0 1 1 - - 1 6 10607 6623 9200 1984 - 1878 7796 9344 11.25 1.00 - - - - - - - - - - 0 - - 1 1 1 1 1 5 ARYZTA AG CHF 1.5 1 1 0 1 1 0 0 0 0 4 2685 139 1648 338 3558 3048 4208 2509 3.87 1.00 26.8 1 1 1 1 1 10 0 1.2527 0 3 0 0 0 1 - 1 1 3 SWISS LIFE HOLDING AG-REG CHF 0.4 1 1 0 1 1 - 0 - 1 5 162112 - 8582 951 3876 153114 19076 10286 - - 42.1 1 0 1 0 1 3 1 3.7068 0 4 - 0 0 1 - 1 1 3 CLARIANT AG-REG CHF 1.2 1 1 0 1 0 1 0 1 0 5 7941 1726 1860 456 3653 6485 6038 3040 2.20 1.00 17.6 1 1 1 1 1 9 1 0 0 4 0 1 0 1 0 1 1 4 BALOISE HOLDING AG - REG CHF 0.8 1 1 1 1 0 - 0 - 1 5 73198 - 4608 539 3685 68654 9333 4873 - - 8.4 1 0 1 1 1 7 1 5.7325 0 4 - 1 1 1 - 1 1 5 LINDT & SPRUENGLI AG-REG CHF 4.5 1 1 1 1 1 1 1 - 1 8 2607 1027 1705 363 7747 893 2670 1727 8.09 1.00 28.8 1 3 1 4 1 21 0 - - 3 0 0 0 1 1 1 1 4 SWISS PRIME SITE-REG CHF 1.2 1 1 0 0 1 - 0 - 0 3 9065 - 1833 200 4582 5323 577 3923 - - 13.3 1 7 1 1 1 43 0 0 0 3 - 1 0 1 - 1 1 4 PARTNERS GROUP HOLDING AG CHF 7.7 1 1 1 1 0 - 0 - 1 5 826 - 694 275 5382 169 564 696 - - 20.8 1 9 1 8 1 18 0 2.9593 0 3 0 0 1 1 - 1 1 4 LONZA GROUP AG-REG CHF 1.1 1 1 0 1 1 0 0 0 1 5 5078 661 2044 336 2563 4694 3925 2406 2.04 1.00 14.0 1 1 1 1 1 4 1 4.3558 0 4 - 1 1 1 0 1 1 5 GALENICA AG-REG CHF 2.6 1 1 1 1 1 0 0 1 1 7 1895 411 1345 355 3438 1769 3608 1378 5.49 1.00 13.6 1 1 1 3 1 12 0 2.0735 0 3 0 1 0 1 1 1 1 5 DUFRY AG-REG CHF 2.8 1 1 0 1 1 1 0 1 0 6 1493 449 -117 276 3509 2158 3154 1367 3.35 1.00 26.8 1 1 1 3 1 10 0 0 0 3 - 0 0 1 1 1 1 4 LINDT & SPRUENGLI AG-PC CHF - 1 1 1 1 1 1 - - 1 7 2607 1027 1705 363 - 893 2670 1727 8.09 1.00 - - - - - - - - - - 0 - - 0 1 1 1 1 4 SULZER AG-REG CHF 2.1 1 1 0 1 1 1 0 1 0 6 3147 950 2297 421 4904 2290 4022 2304 4.34 1.00 16.0 1 1 1 2 1 10 0 2.2207 0 3 - 1 0 1 1 1 1 5 PSP SWISS PROPERTY AG-REG CHF 1.1 1 1 0 0 1 - 0 - 0 3 6354 - 2663 135 3970 2655 283 3699 - - 10.5 1 14 0 1 1 28 0 0 0 2 - 1 0 1 - 1 1 4 SCHINDLER HOLDING AG-REG CHF 5.5 1 1 1 1 1 1 1 - 1 8 7018 1842 2768 985 15265 5009 8258 2813 4.34 1.00 21.8 1 2 1 5 1 20 0 1.6667 0 3 0 0 1 1 1 1 1 5 GAM HOLDING AG CHF 1.0 1 1 1 1 0 - 1 - 1 6 922 - 206 119 2032 341 999 1953 - - 24.2 1 2 1 1 1 14 0 4.0486 0 3 - 0 - 1 - 1 1 3 HELVETIA HOLDING AG-REG CHF 0.8 1 1 1 0 1 - 1 - 0 5 42160 - 3511 438 2984 38397 7967 4100 - - 9.1 1 0 1 1 1 15 0 4.9062 0 3 0 1 1 1 - 1 1 5 FISCHER (GEORG)-REG CHF 1.2 1 1 0 1 1 1 1 - 1 7 2619 745 1085 226 1509 1613 3602 1286 2.91 1.00 9.9 1 0 1 1 1 7 1 4.0761 0 4 - 1 0 1 0 1 1 4 EMS-CHEMIE HOLDING AG-REG CHF 4.4 1 1 1 1 1 1 1 - 1 8 1645 789 1136 322 5038 526 1755 1151 10.06 1.00 18.9 1 3 1 4 1 17 0 3.4819 0 3 - 1 0 1 1 1 1 5 BARRY CALLEBAUT AG-REG CHF 3.4 1 1 0 1 0 1 0 0 1 5 3050 904 1232 356 4668 2215 4830 1362 4.21 1.00 19.4 1 1 1 3 1 28 0 1.7156 0 3 0 1 0 1 1 1 1 5 OC OERLIKON CORP AG-REG CHF 1.8 1 1 1 1 1 1 0 1 1 8 3221 1016 108 421 3364 2277 2906 1882 2.40 1.00 15.2 1 1 1 2 1 7 1 2.4155 0 4 - 1 1 1 1 1 1 6 DKSH HOLDING LTD CHF 3.6 1 1 1 0 0 1 - - 1 5 3225 971 1165 278 4185 2151 8834 1204 - - 20.7 1 0 1 4 1 22 0 0 0 3 - 0 - 1 1 1 1 4 PARGESA HOLDING SA-BR CHF 0.7 1 1 1 1 1 1 0 - 1 7 20203 2549 5282 757 5321 5929 4915 16018 1.13 1.00 12.7 1 1 1 1 1 10 1 4.1022 0 4 - 1 - 1 1 1 1 5 FLUGHAFEN ZUERICH AG-REG CHF 1.4 1 1 0 1 0 1 1 - 0 5 3759 242 962 172 2594 2208 949 1860 1.69 1.00 27.2 1 3 1 1 1 7 1 2.2472 0 4 0 0 0 1 0 1 1 3 PANALPINA WELTTRANSPORT -REG CHF 3.0 0 0 0 1 0 0 0 0 1 2 1823 527 738 -19 2196 1207 6617 750 5.65 1.00 - - 0 1 3 1 - - 2.154 0 2 - - - 1 - 1 1 3 Altman Z Score GROWTH & VALUE CHECKLISTRatio Analysis FUNDAMENTAL SCORING Pitroski F Score Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  7. 7. Currency Price to Book Ratio Positive Net Income Positive Operati ng Cash Flow Increasi ng ROA Quality of Earning s Long Term Debt vs. Assets Current ratio Shares Out - Same or Dec. Inc. Gross Margin Inc. Asset Turnov er Pitroski F Score Tangiable Assets Working Captial Retained Earnings Trailing 12M Operating Inc (Loss) Market Cap Total Liabilities Net Sales (T12M) Total Shareholder s Equity Altman Z Score Altman Z Score Bankruptcy flag PE PE < 40 Price to Sales Price To Sales < 10 Price to Book Price to Book < 10 Price to Cash Flow Price to Cash Flow < 10 Dividen d Yield Div Yield > 7% Final Score PEG < 0.75 PE < 20 EPS Growth > 15% Relative Strength > 0 ROCE > 12% Market Cap > 20m Market < 1000m FINAL SCORE NOBEL BIOCARE HOLDING AG-REG CHF 2.4 1 1 1 1 1 1 0 0 1 7 395 168 185 69 789 276 580 325 5.49 1.00 17.4 1 1 1 2 1 8 1 2.489 0 4 0 1 1 1 1 1 1 6 BUCHER INDUSTRIES AG-REG CHF 2.0 1 1 1 1 1 0 0 - 1 6 2097 615 878 230 1761 1341 2609 916 3.42 1.00 11.7 1 1 1 2 1 9 1 2.7778 0 4 - 1 1 1 1 1 1 6 KABA HOLDING AG-REG B CHF 2.3 1 1 0 1 1 1 1 - 0 6 692 199 -34 119 1347 374 964 599 4.40 1.00 16.0 1 1 1 2 1 12 0 3.1052 0 3 - 1 0 1 1 1 1 5 STRAUMANN HOLDING AG-REG CHF 2.7 1 1 0 1 1 0 1 1 1 7 697 210 611 61 1729 141 686 631 9.90 1.00 47.5 1 3 1 3 1 15 0 3.3482 0 3 0 0 0 1 0 1 1 3 TEMENOS GROUP AG-REG CHF 3.1 1 1 1 1 1 0 0 0 0 5 466 82 127 48 1211 516 450 387 6.57 1.00 50.1 1 3 1 3 1 15 0 1.5978 0 3 0 0 - 1 1 1 1 4 BANQUE CANTONALE VAUDOIS-REG CHF 1.6 1 1 0 1 1 - 1 - 0 5 39763 - 2249 391 4161 37189 1321 2611 - - 13.4 1 3 1 2 1 11 0 0 0 3 - 1 0 1 - 1 1 4 VALIANT HOLDING AG-REG CHF 0.8 1 1 0 1 1 - 1 - 0 5 25058 - 1048 101 1372 23441 617 1670 - - 12.8 1 2 1 1 1 10 0 2.1289 0 3 - 1 0 1 - 1 1 4 KUONI REISEN HLDG-REG(CAT B) CHF 1.5 0 1 0 1 1 0 0 0 1 4 1187 -612 -16 65 1090 1669 5845 741 3.86 1.00 - - 0 1 1 1 10 1 1.0949 0 3 - - - 1 - 1 1 3 ALLREAL HOLDING AG-REG CHF 1.2 1 1 0 0 0 - 0 - 0 2 3923 - 615 137 2248 2021 869 1907 - - 22.3 1 3 1 1 1 30 0 0 0 3 - 0 0 1 - 1 1 3 LOGITECH INTERNATIONAL-REG CHF 1.5 0 1 0 1 0 0 1 1 1 5 1008 391 704 8 1079 640 2100 734 3.80 1.00 - - 1 1 1 1 9 1 3.2463 0 3 - - - 1 - 1 1 3 LUZERNER KANTONALBANK AG-REG CHF 1.8 1 1 1 1 1 - 0 - 0 5 28044 - 1068 203 2805 26495 685 1548 - - 16.9 1 4 1 2 1 11 0 3.2836 0 3 - 1 0 1 - 1 1 4 MOBIMO HOLDING AG-REG CHF 1.1 1 1 0 0 1 - 0 - 1 4 2515 - 574 54 1357 1318 252 1201 - - 17.8 1 5 1 1 1 65 0 0 0 3 - 1 0 1 - 1 1 4 TECAN GROUP AG-REG CHF 2.8 1 1 0 0 1 1 1 0 0 5 381 248 292 52 834 118 391 303 7.93 1.00 19.6 1 2 1 3 1 336 0 0.6536 0 3 0 1 0 1 1 1 1 5 BERNER KANTONALBANK AG-REG CHF 1.5 1 1 0 0 1 - 0 - 0 3 26357 - 1328 197 2327 24857 663 1514 - - 18.5 1 4 1 2 1 162 0 2.0866 0 3 - 1 0 1 - 1 1 4 BELIMO HOLDING AG-REG CHF 4.1 1 1 1 1 1 0 0 - 0 5 326 186 245 76 1076 82 445 261 10.61 1.00 17.5 1 2 1 4 1 13 0 3.4033 0 3 - 1 1 1 1 1 1 6 BURCKHARDT COMPRESSION HOLDI CHF 3.6 1 1 1 0 1 1 0 0 1 6 569 237 331 75 1204 258 367 339 5.20 1.00 21.4 1 3 1 4 1 33 0 2.5334 0 3 - 0 0 1 1 1 1 4 AMS AG CHF 2.8 1 1 1 1 1 0 0 1 1 7 374 116 160 85 1153 224 388 410 4.78 1.00 12.7 1 3 1 3 1 8 1 - - 4 0 1 1 1 - 1 1 5 FORBO HOLDING AG-REG CHF 1.5 1 1 1 0 1 0 1 0 1 6 1185 424 817 167 1201 517 1201 817 4.27 1.00 10.4 1 1 1 1 1 13 0 - - 3 - 1 0 1 1 1 1 5 ST GALLER KANTONALBANK A-REG CHF 1.1 1 1 1 1 1 - 0 - 0 5 27598 - 1530 179 2085 25704 712 1934 - - 13.8 1 3 1 1 1 10 1 3.9894 0 4 - 1 0 1 - 1 1 4 GRAUBUENDNER KANTONALBANK-PC CHF 3.4 1 1 0 0 1 - 0 - 0 3 19364 - 550 189 2879 18486 494 877 - - 20.7 1 6 1 3 1 61 0 3.2958 0 3 - 0 0 1 - 1 1 3 MEYER BURGER TECHNOLOGY AG CHF 0.5 0 0 0 0 0 1 0 1 0 2 632 149 101 -135 325 473 645 628 0.82 0.00 - - 0 1 1 1 - - 0 0 2 - - - 1 - 1 0 2 DAETWYLER HOLDING AG-BR CHF 2.4 1 1 1 0 0 0 0 0 0 3 1070 342 453 107 1468 528 1186 551 4.67 1.00 14.3 1 1 1 2 1 11 0 3.011 0 3 - 1 0 1 1 1 1 5 VONTOBEL HOLDING AG-REG CHF 1.1 1 1 1 1 1 - 1 - 0 6 21055 - 1385 158 1787 19516 905 1574 - - 13.8 1 2 1 1 1 1 1 4.2553 0 4 - 1 1 1 - 1 1 5 EFG INTERNATIONAL AG CHF 1.1 1 1 1 0 0 - 1 - 1 5 23331 - -104 165 1305 22310 1172 1316 - - 11.3 1 1 1 1 1 12 0 1.1236 0 3 - 1 - 1 - 1 1 4 BASILEA PHARMACEUTICA-REG CHF 4.1 0 1 1 1 0 0 0 0 0 3 375 302 -760 -51 428 270 58 106 -1.43 0.00 - - 7 1 4 1 3 1 0 0 3 - - 0 1 - 1 0 2 IMPLENIA AG-REG CHF 1.2 1 1 1 1 1 1 0 - 0 6 1916 463 552 99 733 1410 2696 599 2.46 1.00 10.6 1 0 1 1 1 5 1 - - 4 - 1 0 1 0 1 1 4 HUBER & SUHNER AG-REG CHF 1.5 1 - 0 - 0 0 0 0 0 1 653 322 538 24 879 146 698 575 6.63 1.00 38.8 1 1 1 2 1 - - 1.1494 0 3 - 0 0 1 - 1 0 2 ZUGER KANTONALBANK-BR CHF 1.2 1 - 0 - 0 - 1 - 0 2 - - 932 97 1385 11174 327 1140 - - 22.6 1 4 1 1 1 - - 3.642 0 3 - 0 0 1 - 1 1 3 SCHWEIZERISCHE NATL-V AG-REG CHF 1.0 1 - 0 - 0 - 0 - 1 2 6248 - 875 128 892 5366 1591 894 - - 8.7 1 1 1 1 1 - - 4.1975 0 3 - 1 0 1 - 1 0 3 GATEGROUP HOLDING AG CHF 2.5 0 1 0 1 1 0 1 - 1 5 1088 100 112 16 626 1278 2993 255 3.29 1.00 - - 0 1 3 1 37 0 0 0 2 - - - 1 - 1 0 2 RIETER HOLDING AG-REG CHF 2.0 1 1 0 0 0 0 1 - 1 4 1050 407 348 34 737 693 889 377 2.38 1.00 24.9 1 1 1 2 1 79 0 3.7641 0 3 - 0 0 1 0 1 0 2 VALORA HOLDING AG-REG CHF 1.1 1 1 0 1 0 1 0 1 0 5 949 171 567 78 626 1027 2848 575 4.95 1.00 11.9 1 0 1 1 1 10 1 6.7531 0 4 - 1 0 1 1 1 0 4 BASELLANDS KANTONALBANK-CERT CHF 2.8 1 - 0 - 0 - 1 - 0 2 19233 - 651 174 2409 18373 567 868 - - 21.5 1 4 1 3 1 - - 2.973 0 3 - 0 0 1 - 1 1 3 EMMI AG-REG CHF 1.2 1 1 1 1 1 0 1 - 0 6 2038 333 772 145 1230 1157 2981 1165 3.34 1.00 11.6 1 0 1 1 1 5 1 1.5652 0 4 - 1 1 1 0 1 1 5 BOSSARD HOLDING AG-BR CHF 8.7 1 1 0 1 0 0 1 0 0 4 373 85 -40 48 404 326 471 50 2.55 1.00 9.3 1 1 1 9 1 7 1 4.291 0 4 - 1 0 1 1 1 0 4 SCHWEITER TECHNOLOGIES AG-BR CHF 1.1 1 1 1 1 1 1 1 - 0 7 831 483 8 52 755 217 674 667 4.96 1.00 18.5 1 1 1 1 1 9 1 2.3238 0 4 - 1 0 1 0 1 0 3 U-BLOX AG CHF 1.6 1 1 0 1 0 0 0 0 1 4 89 81 50 25 247 42 173 150 8.59 1.00 14.3 1 1 1 2 1 7 1 2.5543 0 4 - 1 0 1 1 1 0 4 INFICON HOLDING AG-REG CHF 3.1 1 1 0 1 0 1 0 1 0 5 206 125 148 50 538 44 297 172 11.30 1.00 13.3 1 2 1 3 1 11 0 - - 3 - 1 0 1 1 1 0 4 SIEGFRIED HOLDING AG-REG CHF 1.3 1 1 1 1 0 0 1 1 1 7 470 174 309 22 412 161 368 316 4.18 1.00 19.8 1 1 1 1 1 8 1 1.0499 0 4 - 1 1 1 - 1 0 4 VZ HOLDING AG CHF 3.8 1 0 0 0 0 - 1 - 0 2 1035 - 233 67 902 803 154 235 - - 16.6 1 6 1 4 1 - - 2.3043 0 3 - 1 0 1 - 1 1 4 AFG ARBONIA-FORSTER HOLD-REG CHF 0.9 0 1 0 1 1 0 0 - 1 4 1048 296 187 -18 409 708 1215 436 1.96 1.00 - - 0 1 1 1 7 1 0 0 3 - - 1 1 - 1 0 3 BASLER KANTONALBK - PC CHF 1.0 1 1 1 1 1 - 1 - 0 6 39128 - 2362 269 2797 35989 962 3139 - - 12.2 1 3 1 1 1 2 1 3.3233 0 4 - 1 1 1 - 1 1 5 INTERSHOP HOLDINGS AG-BR CHF 1.2 1 1 1 0 1 - 1 - 0 5 - - 533 54 682 710 89 554 - - 12.1 1 8 1 1 1 17 0 6.1586 0 3 - 1 0 1 - 1 0 3 METALL ZUG AG-SHS B-REG CHF 1.2 1 1 1 1 1 0 1 - 1 7 940 436 338 67 858 263 837 692 4.14 1.00 13.9 1 1 1 1 1 8 1 7.2128 1 5 - 1 0 1 0 1 0 3 KUDELSKI SA-BR CHF 1.2 1 1 1 1 0 1 0 - 1 6 723 195 -160 39 511 473 844 438 2.51 1.00 31.5 1 1 1 1 1 5 1 2.0986 0 4 - 0 - 1 0 1 0 2 LEM HOLDING SA-REG CHF 7.7 1 1 1 1 0 1 0 1 1 7 134 51 87 41 671 53 235 87 11.79 1.00 20.5 1 3 1 8 1 15 0 5.0934 0 3 - 0 0 1 1 1 0 3 KOMAX HOLDING AG-REG CHF 1.0 1 1 0 1 0 1 0 1 0 5 309 164 205 16 245 115 287 245 4.67 1.00 23.7 1 1 1 1 1 5 1 - - 4 1 0 0 1 0 1 0 3 LIECHTENSTEIN LANDESBANK-BR CHF 0.5 1 1 1 1 1 - 0 - 1 6 21153 - 1394 111 827 19639 584 1697 - - 8.8 1 1 1 1 1 1 1 5.1635 0 4 - 1 1 1 - 1 1 5 ZEHNDER GROUP AG-BR CHF 1.8 1 1 0 1 1 0 1 - 0 5 404 114 204 39 425 160 524 248 3.64 1.00 15.8 1 1 1 2 1 10 1 2.4692 0 4 - 1 0 1 0 1 0 3 VETROPACK HOLDING AG-BR CHF 1.1 1 1 1 1 1 1 1 - 0 7 742 204 613 62 691 134 604 638 5.67 1.00 8.3 1 1 1 1 1 7 1 2.0759 0 4 - 1 1 1 1 1 0 5 Altman Z Score GROWTH & VALUE CHECKLISTRatio Analysis FUNDAMENTAL SCORING Pitroski F Score Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  8. 8. 27.09.2013 Nestle SA is a multinational packaged food company that manufactures and markets a wide range of food products. The Company's product line includes milk, chocolate, confectionery, bottled water, coffee, creamer, food seasoning and pet foods. Latest Fiscal Year: 12/2012 LTM as of: 06/yy 52-Week High (03.04.2013) 70.00 52-Week Low (16.11.2012) 58.30 Daily Volume 63.35 52-Week High % Change -9.50% Dividend Yield - 52-Week Low % Change 8.66% Beta 0.77 % 52 Week Price Range High/Low 43.59% Equity Float 3'218.97 Shares Out 30.06.2013 3'224.8 Short Int - 204'291.08 1 Yr Total Return 9.52% Total Debt 27'416.00 YTD Return 9.62% Preferred Stock 0.0 Adjusted BETA 0.770 Minority Interest 1'657.0 Analyst Recs 41 Cash and Equivalents 9'296.00 Consensus Rating 3.756 Enterprise Value 228'164.08 Average Volume 5 Day 4'037'156 NESN VX EQUITY YTD Change - Average Volume 30 Day 4'146'081 NESN VX EQUITY YTD % CHANGE - Average Volume 3 Month 4'393'399 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4 103'086.0 100'579.0 88'015.0 83'770.0 89'931.0 85'516 93'257 94'773 99'553 24'109 25'353 1.64x 1.96x 2.08x 2.23x 2.33x 0.00x 0.00x 2.34x 2.21x - - 15'533.0 16'048.0 15'611.0 15'373.0 - 0.0 0.0 17'916.9 19'122.3 - - 10.89x 12.28x 11.72x 12.17x - 0.00x 0.00x 12.73x 11.92x - - 18'039.0 10'428.0 34'233.0 9'487.0 10'228.0 0.0 0.0 10'987.1 11'836.2 - - 20.80x 19.38x 21.06x 18.18x 18.57x 0.00x 0.00x 18.29x 16.95x - - EBITDA - Long-Term Rating Date 16.08.2007 EBIT 13'388.00 Long-Term Rating AA Operating Margin 14.89% Long-Term Outlook STABLE Pretax Margin 15.50% Short-Term Rating Date 23.11.1981 Return on Assets 8.61% Short-Term Rating A-1+ Return on Common Equity 17.63% Return on Capital - EBITDA/Interest Exp. - Asset Turnover 0.76% (EBITDA-Capex)/Interest Exp. - Net Debt/EBITDA - Gross Margin 47.2% Total Debt/EBITDA - EBITDA Margin - EBIT Margin 15.1% Total Debt/Equity 44.9% Net Income Margin 11.4% Total Debt/Capital 30.4% Asset Turnover 0.76 Current Ratio 0.90 Net Fixed Asset Turnover 3.65 Quick Ratio 0.24 Accounts receivable turnover-days - Debt to Assets 21.82% Inventory Days 72.59 Tot Debt to Common Equity 44.94% Accounts Payable Turnover Day 101.58 Accounts Receivable Turnover - Cash Conversion Cycle - Inventory Turnover 5.03 Fiscal Year Ended Nestle SA Price/Volume Valuation Analysis 2'622'659.00 Current Price (9/dd/yy) Market Data Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure 0 10 20 30 40 50 60 70 80 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13 .0 M 2.0 M 4.0 M 6.0 M 8.0 M 10.0 M 12.0 M 14.0 M 16.0 M 18.0 M 0.0 20'000.0 40'000.0 60'000.0 80'000.0 100'000.0 120'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00 20.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  9. 9. 27.09.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type BLACKROCK n/a ULT-AGG 119'317'602 3.7 - 25.09.2013 Investment Advisor NORGES BANK Multiple Portfolios MF-AGG 82'413'972 2.56 - 31.12.2012 Government CAPITAL GROUP COMPAN n/a ULT-AGG 73'166'337 2.27 (8'914'860) 31.07.2013 Investment Advisor CREDIT SUISSE AG n/a ULT-AGG 43'559'622 1.35 (706'405) 30.08.2013 Investment Advisor VANGUARD GROUP INC n/a ULT-AGG 38'099'853 1.18 (286'474) 30.06.2013 Unclassified UBS AG n/a ULT-AGG 35'568'651 1.1 (332'690) 26.09.2013 Unclassified SUN LIFE FINANCIAL I n/a ULT-AGG 29'540'987 0.92 1'921'300 31.07.2013 Investment Advisor FMR LLC n/a ULT-AGG 22'256'091 0.69 (652'986) 31.07.2013 Investment Advisor PICTET FUNDS n/a ULT-AGG 18'952'159 0.59 (255'323) 30.08.2013 Investment Advisor MORGAN STANLEY n/a ULT-AGG 18'210'070 0.56 (418'183) 30.08.2013 Investment Advisor FIL LIMITED n/a ULT-AGG 14'542'915 0.45 3'878'565 30.04.2013 Investment Advisor CARMIGNAC GESTION Multiple Portfolios MF-AGG 13'738'810 0.43 1'149'170 28.06.2013 Investment Advisor T ROWE PRICE ASSOCIA Multiple Portfolios MF-AGG 13'012'758 0.4 2'709'903 30.06.2013 Investment Advisor HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 11'851'701 0.37 (35'644) 30.06.2013 Investment Advisor DEUTSCHE BANK AG n/a ULT-AGG 10'626'606 0.33 284'489 31.07.2013 Investment Advisor SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 10'051'508 0.31 (44'643) 28.03.2013 Investment Advisor FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 8'153'102 0.25 197'400 31.07.2013 Hedge Fund Manager EATON VANCE MANAGEME Multiple Portfolios MF-AGG 7'312'412 0.23 (179'216) 30.06.2013 Investment Advisor COVEA FINANCE SAS Multiple Portfolios MF-AGG 7'202'794 0.22 7'056'334 31.07.2013 Investment Advisor BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 5'838'510 0.18 264'291 26.09.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Morgan Stanley EILEEN KHOO Overwt/In-Line 5 M 71 12 month 27.09.2013 JPMorgan CELINE PANNUTI overweight 5 M 72 12 month 27.09.2013 AlphaValue SOPHIE CABO-BROSETA add 4 M 69 6 month 26.09.2013 Sanford C. Bernstein & Co ANDREW WOOD market perform 3 M 68 12 month 25.09.2013 Exane BNP Paribas JEFF STENT neutral 3 M 72 Not Provided 25.09.2013 SNS Securities(ESN) RICHARD WITHAGEN accumulate 4 U 72 Not Provided 24.09.2013 Societe Generale WARREN L ACKERMAN buy 5 M 73 12 month 23.09.2013 Liberum Capital Ltd PABLO ZUANIC hold 3 M #N/A N/A Not Provided 20.09.2013 First Global Stockbroking DEVINA MEHRA long-term outperform 5 M 82 Not Provided 18.09.2013 Hamburger Sparkasse TINA HECKING-VELTMAN buy 5 M #N/A N/A Not Provided 17.09.2013 Main First Bank AG ALAIN-SEBASTIAN OBERHUBER outperform 5 M 70 12 month 17.09.2013 RBC Capital Markets JAMES EDWARDES JONES outperform 5 M 78 12 month 13.09.2013 Goldman Sachs MITCHELL COLLETT neutral/neutral 3 M 64 12 month 12.09.2013 Espirito Santo Investment Bank ResearchALEX SMITH neutral 3 M 67 Not Provided 12.09.2013 Natixis PIERRE TEGNER buy 5 M 70 Not Provided 12.09.2013 Bank am Bellevue MICHAEL HEIDER hold 3 M 65 Not Provided 05.09.2013 Canaccord Genuity Corp EDDY HARGREAVES hold 3 M 69 12 month 05.09.2013 Nomura DAVID HAYES reduce 2 M 60 12 month 02.09.2013 Credit Suisse ALEX MOLLOY outperform 5 M 76 Not Provided 15.08.2013 Helvea ANDREAS VON ARX hold 3 M 67 12 month 15.08.2013 EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 14.08.2013 Bank Vontobel AG JEAN-PHILIPPE BERTSCHY hold 3 M 66 Not Provided 12.08.2013 Investec MARTIN DEBOO hold 3 M 65 12 month 09.08.2013 Berenberg Bank JAMES TARGETT hold 3 M 68 Not Provided 09.08.2013 Redburn Partners JEREMY FIALKO buy 5 M #N/A N/A Not Provided 09.08.2013 Deutsche Bank HAROLD THOMPSON hold 3 M 60 12 month 08.08.2013 Jefferies ALEX HOWSON buy 5 M 74 12 month 08.08.2013 Landesbank Baden-Wuerttemberg BARBARA AMBRUS hold 3 M 65 Not Provided 08.08.2013 Independent Research GmbH LARS LUSEBRINK hold 3 M 66 12 month 08.08.2013 Kepler Cheuvreux JON COX hold 3 M 60 Not Provided 08.08.2013 S&P Capital IQ CARL SHORT hold 3 M 66 12 month 08.08.2013 Barclays LIAM ROWLEY overweight 5 M 73 Not Provided 08.08.2013 Day by Day VALERIE GASTALDY hold 3 D #N/A N/A Not Provided 22.07.2013 UBS ALAN ERSKINE neutral 3 M 65 12 month 13.06.2013 Mirabaud Securities JULIAN LAKIN hold 3 M 65 12 month 02.05.2013 HSBC CEDRIC BESNARD neutral 3 M 67 Not Provided 18.04.2013 Zuercher Kantonalbank PATRIK SCHWENDIMANN outperform 5 U #N/A N/A Not Provided 18.04.2013 National Bank AG STEFFEN MANSKE hold 3 M 64 Not Provided 24.01.2013 Aurel - BGC JEAN-MARIE L'HOME hold 3 M 49 6 month 18.10.2012 Nord/LB WOLFGANG VASTERLING buy 5 M #N/A N/A Not Provided 10.09.2012 Holdings By: Nestle SA All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  10. 10. 27.09.2013 Novartis AG manufactures pharmaceutical and consumer healthcare products. The Company produces pharmaceuticals for cardiovascular, respiratory and infectious diseases, oncology, neuroscience, transplantation, dermatology, gastrointestinal and urinary conditions, and arthritis, vaccines and diagnostics, vision, and animal health products. Latest Fiscal Year: 12/2012 LTM as of: 06/yy 52-Week High (22.05.2013) 73.75 52-Week Low (20.11.2012) 55.20 Daily Volume 69.7 52-Week High % Change -5.49% Dividend Yield - 52-Week Low % Change 26.27% Beta 0.88 % 52 Week Price Range High/Low 79.25% Equity Float 2'423.83 Shares Out 30.06.2013 2'706.2 Short Int - 188'621.64 1 Yr Total Return 25.58% Total Debt 19'726.00 YTD Return 25.80% Preferred Stock 0.0 Adjusted BETA 0.882 Minority Interest 126.0 Analyst Recs 30 Cash and Equivalents 8'119.00 Consensus Rating 3.933 Enterprise Value 222'290.61 Average Volume 5 Day 2'962'546 NOVN VX EQUITY YTD Change - Average Volume 30 Day 3'283'748 NOVN VX EQUITY YTD % CHANGE - Average Volume 3 Month 3'168'414 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4 41'459.0 44'267.0 50'624.0 58'566.0 56'673.0 57'662.0 57'139.0 57'472.1 59'032.0 14'272.3 14'646.7 2.76x 2.72x 3.08x 2.61x 2.89x 10.61x 12.33x 3.77x 3.60x - - 12'109.0 12'318.0 15'866.0 17'818.0 16'714.0 16'889.0 16'476.0 16'751.8 17'582.2 - - 9.44x 9.79x 9.81x 8.58x 9.82x 8.96x 11.37x 13.26x 12.64x - - 8'195.0 8'400.0 9'794.0 9'113.0 9'505.0 8'534.0 9'408.0 12'601.5 13'437.1 3'188.0 2'975.0 13.89x 14.73x 13.70x 14.94x 16.01x 15.87x 18.37x 15.00x 13.83x 14.97x 14.47x EBITDA 16'714.00 Long-Term Rating Date 07.04.2008 EBIT 11'794.00 Long-Term Rating AA- Operating Margin 20.81% Long-Term Outlook STABLE Pretax Margin 19.84% Short-Term Rating Date 14.01.1997 Return on Assets 7.85% Short-Term Rating A-1+ Return on Common Equity 14.08% Return on Capital 11.58% EBITDA/Interest Exp. 23.09 Asset Turnover 0.48% (EBITDA-Capex)/Interest Exp. 19.36 Net Debt/EBITDA 0.83 Gross Margin 66.9% Total Debt/EBITDA 1.15 EBITDA Margin 28.8% EBIT Margin 20.1% Total Debt/Equity 28.5% Net Income Margin 16.8% Total Debt/Capital 22.2% Asset Turnover 0.48 Current Ratio 1.16 Net Fixed Asset Turnover 3.53 Quick Ratio 0.76 Accounts receivable turnover-days 67.96 Debt to Assets 15.88% Inventory Days 131.10 Tot Debt to Common Equity 28.55% Accounts Payable Turnover Day 88.33 Accounts Receivable Turnover 5.37 Cash Conversion Cycle 90.49 Inventory Turnover 2.78 Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Fiscal Year Ended Novartis AG Price/Volume Valuation Analysis 1'788'344.00 Current Price (9/dd/yy) Market Data 0 10 20 30 40 50 60 70 80 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13 .0 M 2.0 M 4.0 M 6.0 M 8.0 M 10.0 M 12.0 M 14.0 M 16.0 M 18.0 M 0.0 10'000.0 20'000.0 30'000.0 40'000.0 50'000.0 60'000.0 70'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  11. 11. 27.09.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type CAPITAL GROUP COMPAN n/a ULT-AGG 124'079'873 4.59 (2'058'246) 31.07.2013 Investment Advisor BLACKROCK n/a ULT-AGG 114'286'957 4.22 4'207'764 25.09.2013 Investment Advisor NOVARTIS AG n/a EXCH 109'194'165 4.03 - 09.05.2012 Corporation EMASAN AG n/a Co File 87'859'938 3.25 - 31.12.2011 Hedge Fund Manager NOVARTIS FOUNDATION n/a EXCH 78'926'882 2.92 - 25.02.2013 n/a NORGES BANK Multiple Portfolios MF-AGG 60'347'393 2.23 - 31.12.2012 Government DODGE & COX WORLDWID Multiple Portfolios MF-AGG 37'058'506 1.37 - 31.03.2013 Investment Advisor CREDIT SUISSE AG n/a ULT-AGG 36'398'922 1.35 (534'812) 30.08.2013 Investment Advisor VANGUARD GROUP INC n/a ULT-AGG 33'278'472 1.23 884'368 30.06.2013 Unclassified UBS AG n/a ULT-AGG 30'276'362 1.12 (173'119) 26.09.2013 Unclassified PICTET FUNDS n/a ULT-AGG 15'275'859 0.56 (182'751) 31.05.2013 Investment Advisor HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 13'520'441 0.5 (145) 30.06.2013 Investment Advisor BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 11'705'499 0.43 (294'812) 26.09.2013 Investment Advisor INVESCO LTD n/a ULT-AGG 10'323'016 0.38 1'160'179 26.09.2013 Investment Advisor THORNBURG INVESTMENT Multiple Portfolios MF-AGG 9'867'796 0.36 - 31.07.2013 Investment Advisor SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 8'816'259 0.33 49'996 28.03.2013 Investment Advisor CARMIGNAC GESTION Multiple Portfolios MF-AGG 8'442'000 0.31 7'906'126 28.06.2013 Investment Advisor FMR LLC n/a ULT-AGG 8'045'224 0.3 (224'496) 31.07.2013 Investment Advisor DEUTSCHE BANK AG n/a ULT-AGG 7'612'347 0.28 245'641 31.07.2013 Investment Advisor SUN LIFE FINANCIAL I n/a ULT-AGG 6'455'831 0.24 188'898 31.07.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Sanford C. Bernstein & Co TIMOTHY M ANDERSON outperform 5 M 80 12 month 27.09.2013 Helvea ODILE RUNDQUIST buy 5 M 76 12 month 27.09.2013 AlphaValue ARMELLE MOULIN add 4 M 72 6 month 26.09.2013 Bryan Garnier & Cie ERIC LE BERRIGAUD buy 5 M 76 6 month 23.09.2013 Natixis BEATRICE MUZARD neutral 3 M 72 6 month 23.09.2013 Exane BNP Paribas FLORENT CESPEDES outperform 5 M 79 Not Provided 19.09.2013 Bank Vontobel AG ANDREW C WEISS reduce 2 M 60 Not Provided 16.09.2013 Barclays MARK PURCELL underweight 1 D 64 Not Provided 16.09.2013 Jefferies JEFFREY HOLFORD buy 5 M 80 12 month 10.09.2013 Deutsche Bank TIM RACE hold 3 M 74 12 month 04.09.2013 Credit Suisse MATTHEW WESTON outperform 5 M 79 Not Provided 29.08.2013 Societe Generale STEPHEN MCGARRY buy 5 M 82 12 month 28.08.2013 Zuercher Kantonalbank MICHAEL NAWRATH outperform 5 M #N/A N/A Not Provided 20.08.2013 Liberum Capital Ltd NARESH CHOUHAN buy 5 M 85 Not Provided 16.08.2013 Berenberg Bank ALISTAIR CAMPBELL buy 5 M 83 Not Provided 26.07.2013 Bank am Bellevue BRUNO ESCHLI hold 3 M 70 Not Provided 23.07.2013 Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 22.07.2013 Kepler Cheuvreux FABIAN WENNER hold 3 M 66 Not Provided 19.07.2013 Landesbank Baden-Wuerttemberg TIMO KUERSCHNER buy 5 M 75 Not Provided 17.07.2013 Independent Research GmbH CHRISTOPH SCHOENDUBE hold 3 M 75 12 month 17.07.2013 Hamburger Sparkasse MARCO GUENTHER hold 3 M #N/A N/A Not Provided 17.07.2013 CM - CIC Securities(ESN) ARSENE GUEKAM hold 3 M 55 12 month 17.07.2013 S&P Capital IQ SHO MATSUBARA hold 3 M 69 12 month 17.07.2013 JPMorgan RICHARD VOSSER overweight 5 M 78 9 month 10.07.2013 Redburn Partners TEAM COVERAGE neutral 3 D #N/A N/A Not Provided 14.06.2013 EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013 Goldman Sachs KEYUR PAREKH neutral/neutral 3 M 76 12 month 17.05.2013 UBS ANDREW WHITNEY buy 5 M 80 12 month 19.03.2013 Cyrrus TOMAS MENCIK hold 3 M 52 Not Provided 05.04.2012 Mirabaud Securities NICHOLAS TURNER accumulate 4 M 61 Not Provided 02.04.2012 National Bank AG STEFFEN MANSKE buy 5 M 64 Not Provided 21.10.2010 Holdings By: Novartis AG All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  12. 12. 27.09.2013 Roche Holding AG develops and manufactures pharmaceutical and diagnostic products. The Company produces prescription drugs in the areas of cardiovascular, infectious, autoimmune, and respiratory diseases, dermatology, metabolic disorders, oncology, transplantation, and the central nervous system. Latest Fiscal Year: 12/2012 LTM as of: 06/yy 52-Week High (22.05.2013) 258.60 52-Week Low (16.11.2012) 174.20 Daily Volume 243.6 52-Week High % Change -5.80% Dividend Yield - 52-Week Low % Change 39.84% Beta 0.96 % 52 Week Price Range High/Low 81.52% Equity Float 701.88 Shares Out 30.06.2013 702.6 Short Int - 209'944.28 1 Yr Total Return 41.32% Total Debt 24'590.00 YTD Return 36.94% Preferred Stock 0.0 Adjusted BETA 0.963 Minority Interest 2'234.0 Analyst Recs 32 Cash and Equivalents 13'991.00 Consensus Rating 4.500 Enterprise Value 225'683.27 Average Volume 5 Day 1'013'379 ROG VX EQUITY YTD Change - Average Volume 30 Day 910'162 ROG VX EQUITY YTD % CHANGE - Average Volume 3 Month 966'270 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4 45'617.0 49'051.0 47'473.0 42'531.0 45'499.0 43'283.0 46'371.0 47'285.3 49'053.6 11'709.3 12'208.3 2.93x 3.62x 2.96x 3.65x 3.77x 0.00x 0.00x 4.62x 4.34x - - 16'673.0 18'936.0 18'358.0 17'894.0 19'400.0 0.0 0.0 20'096.4 21'180.6 - - 8.03x 9.38x 7.65x 8.68x 8.84x 0.00x 0.00x 11.22x 10.65x - - 8'969.0 7'784.0 8'666.0 9'343.0 9'539.0 0.0 0.0 12'688.5 13'720.2 - - 15.58x 19.38x 13.51x 14.46x 16.36x 0.00x 0.00x 16.19x 15.08x - - EBITDA 19'400.00 Long-Term Rating Date 17.09.2012 EBIT 16'979.00 Long-Term Rating AA Operating Margin 37.32% Long-Term Outlook STABLE Pretax Margin 27.08% Short-Term Rating Date 01.02.2006 Return on Assets 18.86% Short-Term Rating A-1+ Return on Common Equity 95.24% Return on Capital 32.70% EBITDA/Interest Exp. 13.90 Asset Turnover 0.78% (EBITDA-Capex)/Interest Exp. 12.34 Net Debt/EBITDA 0.69 Gross Margin 73.8% Total Debt/EBITDA 1.09 EBITDA Margin 42.3% EBIT Margin 37.1% Total Debt/Equity 169.7% Net Income Margin 21.0% Total Debt/Capital 59.5% Asset Turnover 0.78 Current Ratio 1.55 Net Fixed Asset Turnover 2.98 Quick Ratio 1.16 Accounts receivable turnover-days 75.45 Debt to Assets 37.94% Inventory Days 172.09 Tot Debt to Common Equity 169.66% Accounts Payable Turnover Day 50.98 Accounts Receivable Turnover 4.84 Cash Conversion Cycle 181.16 Inventory Turnover 2.12 Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Fiscal Year Ended Roche Holding AG Price/Volume Valuation Analysis 593'725.00 Current Price (9/dd/yy) Market Data 0 50 100 150 200 250 300 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13 .0 M .5 M 1.0 M 1.5 M 2.0 M 2.5 M 3.0 M 3.5 M 4.0 M 4.5 M 5.0 M 0.0 10'000.0 20'000.0 30'000.0 40'000.0 50'000.0 60'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  13. 13. 27.09.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type VANGUARD GROUP INC n/a ULT-AGG 21'048'484 3 122'672 30.06.2013 Unclassified NORGES BANK Multiple Portfolios MF-AGG 16'154'814 2.3 - 31.12.2012 Government CAPITAL GROUP COMPAN n/a ULT-AGG 15'092'299 2.15 (1'202'673) 31.07.2013 Investment Advisor BLACKROCK n/a ULT-AGG 12'774'878 1.82 86'423 25.09.2013 Investment Advisor PRIMECAP MANAGEMENT PRIMECAP MANAGEMENT 13F 10'513'329 1.5 (85'966) 30.06.2013 Investment Advisor CREDIT SUISSE AG n/a ULT-AGG 9'877'114 1.41 (142'317) 30.08.2013 Investment Advisor FRANKLIN RESOURCES n/a ULT-AGG 9'230'703 1.31 (674'837) 31.08.2013 Investment Advisor PERPETUAL INVESTMENT Multiple Portfolios MF-AGG 9'115'734 1.3 101'592 31.08.2013 Investment Advisor UBS AG n/a ULT-AGG 8'102'750 1.15 (84'788) 26.09.2013 Unclassified DODGE & COX Multiple Portfolios MF-AGG 7'496'200 1.07 (220'000) 30.06.2013 Investment Advisor DODGE & COX WORLDWID Multiple Portfolios MF-AGG 7'367'775 1.05 - 31.03.2013 Investment Advisor SUN LIFE FINANCIAL I n/a ULT-AGG 4'770'910 0.68 102'790 31.07.2013 Investment Advisor FMR LLC n/a ULT-AGG 4'700'633 0.67 1'789 31.07.2013 Investment Advisor HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 4'691'073 0.67 (5'018) 30.06.2013 Investment Advisor PICTET FUNDS n/a ULT-AGG 4'440'628 0.63 (50'098) 30.08.2013 Investment Advisor BANK OF NEW YORK MEL Multiple Portfolios MF-AGG 3'673'776 0.52 (16'576) 26.09.2013 Investment Advisor THORNBURG INVESTMENT Multiple Portfolios MF-AGG 3'538'214 0.5 (347'600) 31.07.2013 Investment Advisor DEUTSCHE BANK AG n/a ULT-AGG 2'973'460 0.42 230'399 31.07.2013 Investment Advisor FIL LIMITED n/a ULT-AGG 2'644'689 0.38 (844'094) 30.04.2013 Investment Advisor ABERDEEN n/a ULT-AGG 2'368'760 0.34 (15'066) 31.08.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date Sanford C. Bernstein & Co TIMOTHY M ANDERSON outperform 5 M 273 12 month 27.09.2013 Bryan Garnier & Cie ERIC LE BERRIGAUD neutral 3 M 252 6 month 27.09.2013 Societe Generale STEPHEN MCGARRY buy 5 M 312 12 month 26.09.2013 AlphaValue ARMELLE MOULIN add 4 M 252 6 month 26.09.2013 Natixis PHILIPPE LANONE buy 5 M 285 6 month 23.09.2013 Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 23.09.2013 Exane BNP Paribas VINCENT MEUNIER neutral 3 M 250 Not Provided 23.09.2013 Helvea ODILE RUNDQUIST buy 5 M 270 12 month 23.09.2013 JPMorgan RICHARD VOSSER overweight 5 M 280 9 month 19.09.2013 UBS ANDREW WHITNEY neutral 3 M 225 12 month 17.09.2013 Barclays MARK PURCELL overweight 5 M 258 Not Provided 16.09.2013 Jefferies JEFFREY HOLFORD buy 5 M 280 12 month 10.09.2013 Zuercher Kantonalbank MICHAEL NAWRATH outperform 5 M #N/A N/A Not Provided 05.09.2013 Deutsche Bank TIM RACE buy 5 M 280 12 month 04.09.2013 Bank am Bellevue BRUNO ESCHLI buy 5 M 263 Not Provided 28.08.2013 Kepler Cheuvreux FABIAN WENNER buy 5 M 260 Not Provided 27.08.2013 Berenberg Bank ALISTAIR CAMPBELL buy 5 M 270 Not Provided 30.07.2013 Credit Suisse LUISA HECTOR outperform 5 M 270 Not Provided 26.07.2013 Independent Research GmbH CHRISTOPH SCHOENDUBE buy 5 M 295 12 month 26.07.2013 Hamburger Sparkasse MARCO GUENTHER hold 3 M #N/A N/A Not Provided 26.07.2013 Bank Vontobel AG ANDREW C WEISS buy 5 M 263 Not Provided 26.07.2013 Landesbank Baden-Wuerttemberg TIMO KUERSCHNER buy 5 M 290 Not Provided 25.07.2013 S&P Capital IQ SHO MATSUBARA buy 5 M 284 12 month 25.07.2013 Liberum Capital Ltd NARESH CHOUHAN buy 5 U 250 Not Provided 28.06.2013 CM - CIC Securities(ESN) ARSENE GUEKAM buy 5 U 281 12 month 18.06.2013 Redburn Partners TEAM COVERAGE neutral 3 M #N/A N/A Not Provided 14.06.2013 EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013 Goldman Sachs KEYUR PAREKH Buy/Neutral 5 M 310 12 month 17.05.2013 Mirabaud Securities NICHOLAS TURNER accumulate 4 M 262 12 month 10.05.2013 National Bank AG STEFFEN MANSKE hold 3 N 210 Not Provided 31.01.2013 Cyrrus TOMAS MENCIK accumulate 4 M 176 Not Provided 05.04.2012 MP Advisors Pvt Ltd VISHAL MANCHANDA outperform 5 M 160 Not Provided 14.11.2011 Holdings By: Roche Holding AG All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  14. 14. 27.09.2013 UBS AG is a wealth management, investment banking, and asset management firm. The Company provides a variety of financial services to individuals, institutions, corporations, governments, and financial intermediaries around the world. Latest Fiscal Year: 12/2012 LTM as of: 06/yy 52-Week High (19.09.2013) 19.60 52-Week Low (01.10.2012) 11.29 Daily Volume 18.77 52-Week High % Change -4.23% Dividend Yield - 52-Week Low % Change 66.27% Beta 1.34 % 52 Week Price Range High/Low 90.86% Equity Float 3'469.49 Shares Out 30.06.2013 3'839.2 Short Int - 72'061.63 1 Yr Total Return 62.98% Total Debt 267'401.00 YTD Return 32.71% Preferred Stock 0.0 Adjusted BETA 1.336 Minority Interest 4'353.0 Analyst Recs 43 Cash and Equivalents 66'383.00 Consensus Rating 3.628 Enterprise Value 220'592.63 Average Volume 5 Day 8'036'652 UBSN VX EQUITY YTD Change - Average Volume 30 Day 8'223'609 UBSN VX EQUITY YTD % CHANGE - Average Volume 3 Month 8'596'575 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4 67'219.0 44'658.0 46'526.0 40'880.0 37'754.0 37'651.0 38'698.0 29'144.9 29'630.2 6'908.0 7'276.0 8.31x 9.51x 8.39x 9.20x 6.86x 35.58x 25.76x 37.94x 33.37x - - 37'052.0 19'874.0 20'964.0 17'464.0 15'529.0 12'178.0 13'651.0 - - - - 15.08x 21.36x 18.62x 21.53x 16.67x 0.00x 0.00x - - - - (21'292.0) (2'736.0) 7'534.0 4'159.0 (2'511.0) 2'762.0 (2'384.0) 3'832.0 4'887.6 822.0 1'034.0 - - 7.71x 10.16x - 15.14x 0.00x 18.88x 14.51x 15.05x 13.90x EBITDA 15'529.00 Long-Term Rating Date 29.11.2011 EBIT - Long-Term Rating A Operating Margin 5.80% Long-Term Outlook STABLE Pretax Margin -4.70% Short-Term Rating Date 19.12.2008 Return on Assets -0.19% Short-Term Rating A-1 Return on Common Equity -4.68% Return on Capital -0.63% EBITDA/Interest Exp. - Asset Turnover 0.03% (EBITDA-Capex)/Interest Exp. - Net Debt/EBITDA - Gross Margin - Total Debt/EBITDA - EBITDA Margin - EBIT Margin - Total Debt/Equity 582.6% Net Income Margin -6.7% Total Debt/Capital 84.2% Asset Turnover 0.03 Current Ratio - Net Fixed Asset Turnover 6.44 Quick Ratio - Accounts receivable turnover-days - Debt to Assets 21.24% Inventory Days - Tot Debt to Common Equity 582.62% Accounts Payable Turnover Day - Accounts Receivable Turnover - Cash Conversion Cycle - Inventory Turnover - Fiscal Year Ended UBS AG Price/Volume Valuation Analysis 4'804'158.00 Current Price (9/dd/yy) Market Data Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure 0 5 10 15 20 25 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13 .0 M 10.0 M 20.0 M 30.0 M 40.0 M 50.0 M 60.0 M 0.0 20'000.0 40'000.0 60'000.0 80'000.0 100'000.0 120'000.0 140'000.0 160'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  15. 15. 27.09.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type GIC PRIVATE LIMITED n/a ULT-AGG 245'596'591 6.4 - 12.09.2013 Government UBS AG n/a ULT-AGG 216'603'351 5.64 (20'764'353) 26.09.2013 Unclassified NORGES BANK n/a EXCH 116'490'210 3.03 - 27.09.2011 Government FMR LLC n/a ULT-AGG 101'598'767 2.65 14'311'401 30.06.2013 Investment Advisor CAPITAL GROUP COMPAN n/a ULT-AGG 62'295'964 1.62 10'743'000 31.07.2013 Investment Advisor FIL LIMITED n/a ULT-AGG 58'798'597 1.53 (1'640'766) 30.06.2013 Investment Advisor CREDIT SUISSE AG n/a ULT-AGG 50'539'582 1.32 (401'100) 31.05.2013 Investment Advisor HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 38'747'528 1.01 4'128'293 30.06.2013 Investment Advisor BLACKROCK n/a ULT-AGG 32'192'049 0.84 (5'110'753) 25.09.2013 Investment Advisor FRANKLIN RESOURCES n/a ULT-AGG 29'879'115 0.78 (14'305'536) 30.06.2013 Investment Advisor ZURCHER KANTONALBANK ZURCHER KANTONALBANK 13F 24'085'894 0.63 (2'534'077) 30.06.2013 Investment Advisor OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 23'172'660 0.6 332'960 31.07.2013 Investment Advisor JP MORGAN n/a ULT-AGG 23'125'477 0.6 4'674'008 31.07.2013 Investment Advisor CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 22'168'898 0.58 4'697'001 30.06.2013 Investment Advisor PICTET FUNDS n/a ULT-AGG 21'828'303 0.57 (263'056) 31.05.2013 Investment Advisor WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 21'670'005 0.56 (2'974'135) 30.06.2013 Investment Advisor GOLDMAN SACHS GROUP n/a ULT-AGG 16'886'540 0.44 7'764'122 30.06.2013 Investment Advisor INVESCO LTD n/a ULT-AGG 16'432'471 0.43 4'932'798 26.09.2013 Investment Advisor AXA n/a ULT-AGG 15'645'128 0.41 3'097'530 30.06.2013 Investment Advisor BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 15'105'719 0.39 752'938 30.06.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date RBC Capital Markets FIONA SWAFFIELD sector perform 3 M 20 12 month 27.09.2013 Nomura JON PEACE buy 5 M 20 12 month 27.09.2013 Exane BNP Paribas DANIEL DAVIES neutral 3 M 18 Not Provided 27.09.2013 AlphaValue DIETER HEIN sell 1 M 17 6 month 26.09.2013 Grupo Santander AURELIA FAURE underweight 1 M 16 12 month 25.09.2013 Rafferty Capital Markets RICHARD X BOVE SR hold 3 M 19 12 month 25.09.2013 Macquarie PIERS BROWN outperform 5 M 21 12 month 19.09.2013 Main First Bank AG KILIAN MAIER underperform 1 M 18 12 month 18.09.2013 Morgan Stanley HUW VAN STEENIS Overwt/In-Line 5 M 21 12 month 16.09.2013 JPMorgan KIAN ABOUHOSSEIN overweight 5 M 21 15 month 11.09.2013 Oddo & Cie JEAN SASSUS neutral 3 M 19 Not Provided 06.09.2013 Hamburger Sparkasse CHRISTIAN HAMANN hold 3 M #N/A N/A Not Provided 02.09.2013 Berenberg Bank JAMES CHAPPELL buy 5 M 20 Not Provided 02.09.2013 Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 23.08.2013 Bankhaus Lampe NEIL SMITH sell 1 M 16 12 month 20.08.2013 Kepler Cheuvreux DIRK BECKER hold 3 M 19 Not Provided 20.08.2013 Helvea TIM DAWSON buy 5 M 20 12 month 15.08.2013 Barclays KIRI VIJAYARAJAH overweight 5 M 22 Not Provided 14.08.2013 Mediobanca SpA CHRISTOPHER J WHEELER neutral 3 M 20 12 month 13.08.2013 Bank am Bellevue MARC DEUSTER hold 3 M 20 Not Provided 08.08.2013 Credit Suisse AMIT GOEL neutral 3 M 16 Not Provided 07.08.2013 Commerzbank Corporates & Markets MICHAEL DUNST hold 3 M 18 6 month 06.08.2013 Bank Vontobel AG TAKIS SPILIOPOULOS buy 5 M 22 Not Provided 06.08.2013 Independent Research GmbH STEFAN BONGARDT hold 3 M 20 12 month 05.08.2013 Goldman Sachs JERNEJ OMAHEN Buy/Neutral 5 M 24 12 month 01.08.2013 Landesbank Baden-Wuerttemberg INGO FROMMEN hold 3 M 19 Not Provided 01.08.2013 Mirabaud Securities Claudia von Turk Myers accumulate 4 M 21 12 month 01.08.2013 Keefe, Bruyette & Woods ANDREW STIMPSON market perform 3 U 19 12 month 31.07.2013 Natixis ANTOINE BURGARD buy 5 M 20 Not Provided 31.07.2013 Deutsche Bank MATT SPICK buy 5 M 21 12 month 30.07.2013 Bankhaus Metzler GUIDO HOYMANN sell 1 M 14 12 month 30.07.2013 S&P Capital IQ FRANK BRADEN buy 5 M 20 12 month 30.07.2013 Canaccord Genuity Corp ARUN MELMANE buy 5 M 24 12 month 26.07.2013 Redburn Partners NICHOLAS WATTS buy 5 M #N/A N/A Not Provided 16.07.2013 HSBC ROBERT MURPHY overweight 5 M 20 Not Provided 17.06.2013 EVA Dimensions DOUG WALTERS sell 1 M #N/A N/A Not Provided 06.06.2013 Espirito Santo Investment Bank ResearchANDREW LIM buy 5 M 23 Not Provided 05.06.2013 Societe Generale GEOFF DAWES sell 1 M 15 12 month 29.05.2013 Liberum Capital Ltd CORMAC LEECH buy 5 M 18 Not Provided 25.03.2013 Zuercher Kantonalbank ANDREAS VENDITTI outperform 5 U #N/A N/A Not Provided 30.10.2012 Nord/LB MICHAEL SEUFERT hold 3 M #N/A N/A Not Provided 23.10.2012 Hammer Partners SA ENRICO RACIOPPI buy 5 M 11 Not Provided 03.07.2012 Holdings By: UBS AG All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  16. 16. 27.09.2013 ABB Limited provides power and automation technologies. The Company operates under segments that include power products, power systems, automation products, process automation and robotics. Latest Fiscal Year: 12/2012 LTM as of: 06/yy 52-Week High (22.05.2013) 22.10 52-Week Low (16.11.2012) 16.11 Daily Volume 21.5 52-Week High % Change -2.71% Dividend Yield - 52-Week Low % Change 33.43% Beta 1.31 % 52 Week Price Range High/Low 93.32% Equity Float 2'129.96 Shares Out 30.06.2013 2'314.7 Short Int - 49'766.98 1 Yr Total Return 24.27% Total Debt 10'071.00 YTD Return 18.37% Preferred Stock 0.0 Adjusted BETA 1.311 Minority Interest 540.0 Analyst Recs 40 Cash and Equivalents 8'481.00 Consensus Rating 3.625 Enterprise Value 58'918.54 Average Volume 5 Day 4'038'883 ABBN VX EQUITY YTD Change - Average Volume 30 Day 4'178'637 ABBN VX EQUITY YTD % CHANGE - Average Volume 3 Month 4'042'708 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 06/yy 06/yy 12/13 Y 12/14 Y 09/13 Q3 12/13 Q4 34'912.0 31'795.0 31'589.0 37'990.0 39'336.0 38'478.0 40'706.0 41'196.7 42'819.3 10'007.0 11'297.5 0.83x 1.18x 1.42x 1.10x 1.25x 4.40x 5.03x 1.38x 1.29x 5.68x 5.04x 5'259.0 4'892.0 4'733.0 5'688.0 5'294.0 5'454.0 5'736.0 6'135.8 6'763.2 1'540.7 1'687.1 5.48x 7.67x 9.49x 7.37x 9.31x 7.67x 9.36x 9.61x 8.72x 9.27x 9.14x 3'118.0 2'901.0 2'561.0 3'168.0 2'704.0 2'961.0 2'790.0 3'323.7 3'812.3 844.5 959.8 10.76x 15.27x 19.85x 13.65x 17.40x 12.71x 17.77x 16.37x 14.40x 15.82x - EBITDA 5'294.00 Long-Term Rating Date 08.06.2010 EBIT 4'112.00 Long-Term Rating A Operating Margin 10.45% Long-Term Outlook STABLE Pretax Margin 9.76% Short-Term Rating Date 08.06.2010 Return on Assets 6.14% Short-Term Rating A-1 Return on Common Equity 17.59% Return on Capital 12.54% EBITDA/Interest Exp. 18.07 Asset Turnover 0.90% (EBITDA-Capex)/Interest Exp. 13.66 Net Debt/EBITDA 0.60 Gross Margin 28.9% Total Debt/EBITDA 1.42 EBITDA Margin 14.1% EBIT Margin 10.9% Total Debt/Equity 59.6% Net Income Margin 6.9% Total Debt/Capital 36.6% Asset Turnover 0.90 Current Ratio 1.48 Net Fixed Asset Turnover 7.28 Quick Ratio 0.88 Accounts receivable turnover-days - Debt to Assets 20.52% Inventory Days 80.03 Tot Debt to Common Equity 59.57% Accounts Payable Turnover Day 60.35 Accounts Receivable Turnover - Cash Conversion Cycle 89.35 Inventory Turnover 4.56 Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Fiscal Year Ended ABB Ltd Price/Volume Valuation Analysis 2'629'471.00 Current Price (9/dd/yy) Market Data 0 5 10 15 20 25 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13 .0 M 5.0 M 10.0 M 15.0 M 20.0 M 25.0 M 0.0 5'000.0 10'000.0 15'000.0 20'000.0 25'000.0 30'000.0 35'000.0 40'000.0 45'000.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 0.00 5.00 10.00 15.00 20.00 25.00 01.01.2010 01.07.2010 01.01.2011 01.07.2011 01.01.2012 01.07.2012 01.01.2013 01.07.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  17. 17. 27.09.2013 Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type INVESTOR AB n/a Co File 182'030'142 7.86 - 31.12.2012 Investment Advisor BLACKROCK n/a ULT-AGG 89'890'147 3.88 30'384 25.09.2013 Investment Advisor NORGES BANK Multiple Portfolios MF-AGG 53'617'789 2.32 - 31.12.2012 Government CREDIT SUISSE AG n/a ULT-AGG 33'715'781 1.46 (536'391) 31.05.2013 Investment Advisor VANGUARD GROUP INC n/a ULT-AGG 33'301'443 1.44 1'544'794 30.06.2013 Unclassified SWEDBANK ROBUR FONDE Multiple Portfolios MF-AGG 29'672'514 1.28 14'183'006 30.06.2013 Investment Advisor UBS AG n/a ULT-AGG 26'630'146 1.15 (151'716) 26.09.2013 Unclassified HARBOR CAPITAL ADVIS Multiple Portfolios MF-AGG 25'109'683 1.08 - 30.06.2013 Investment Advisor NORDEA FONDER AB/SWE Multiple Portfolios MF-AGG 22'834'513 0.99 (788'859) 30.08.2013 Investment Advisor PICTET FUNDS n/a ULT-AGG 15'192'696 0.66 (188'601) 31.05.2013 Investment Advisor SEB n/a ULT-AGG 14'366'955 0.62 2'632'729 26.08.2013 Unclassified AMF FONDER AB Multiple Portfolios MF-AGG 11'080'901 0.48 1'637'501 31.03.2013 Investment Advisor SKAGEN AS Multiple Portfolios MF-AGG 10'641'737 0.46 - 30.08.2013 Investment Advisor CAPITAL GROUP COMPAN n/a ULT-AGG 9'900'000 0.43 - 30.06.2013 Investment Advisor INVESCO LTD n/a ULT-AGG 9'138'977 0.39 655'463 26.09.2013 Investment Advisor HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 8'261'233 0.36 248'815 30.08.2013 Investment Advisor SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 7'809'229 0.34 25'220 28.03.2013 Investment Advisor FOLKSAM LO FOND AB Multiple Portfolios MF-AGG 7'750'666 0.33 1'685'882 31.03.2013 Investment Advisor NEW YORK LIFE INVEST Multiple Portfolios MF-AGG 5'905'912 0.26 5'427'446 31.07.2013 Insurance Company OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 5'368'860 0.23 463'740 31.07.2013 Investment Advisor Firm Name Analyst Recommendation Weighting Change Target Price Date Date RBC Capital Markets ANDREW CARTER sector perform 3 M 23 12 month 26.09.2013 AlphaValue HEINZ STEFFEN reduce 2 D 22 6 month 26.09.2013 Barclays JAMES STETTLER equalweight 3 M 21 Not Provided 18.09.2013 Day by Day VALERIE GASTALDY hold 3 M #N/A N/A Not Provided 16.09.2013 Espirito Santo Investment Bank ResearchROB VIRDEE neutral 3 D 23 Not Provided 09.09.2013 Exane BNP Paribas OLIVIER ESNOU underperform 1 M 22 Not Provided 09.09.2013 HSBC COLIN GIBSON underweight 1 D 20 Not Provided 28.08.2013 Helvea STEFAN GAECHTER buy 5 M 25 12 month 15.08.2013 Goldman Sachs DANIELA COSTA neutral/neutral 3 D 21 12 month 01.08.2013 EVA Dimensions TIMOTHY STANISH hold 3 U #N/A N/A Not Provided 30.07.2013 Hamburger Sparkasse MARCO GUENTHER hold 3 M #N/A N/A Not Provided 29.07.2013 Societe Generale SEBASTIEN GRUTER buy 5 M 24 12 month 26.07.2013 Morgan Stanley BEN UGLOW Underwt/Cautious 1 M 20 12 month 26.07.2013 Bank am Bellevue MICHAEL ROOST hold 3 M 20 Not Provided 26.07.2013 Credit Suisse SIMON TOENNESSEN outperform 5 M 26 Not Provided 26.07.2013 UBS FREDRIC STAHL buy 5 M 23 12 month 26.07.2013 JPMorgan ANDREAS WILLI underweight 1 M 22 15 month 26.07.2013 Zuercher Kantonalbank RICHARD FREI outperform 5 M #N/A N/A Not Provided 26.07.2013 Independent Research GmbH MARKUS FRIEBEL hold 3 M 22 12 month 26.07.2013 Nordea Equity Research ANDREAS BROCK buy 5 M 23 12 month 26.07.2013 Berenberg Bank WILLIAM MACKIE hold 3 M 20 Not Provided 26.07.2013 Bank Vontobel AG TAKIS SPILIOPOULOS buy 5 M 24 Not Provided 26.07.2013 Danske Markets CARL GUSTAFSSON buy 5 M 25 12 month 26.07.2013 Deutsche Bank MARTIN WILKIE hold 3 M 20 12 month 25.07.2013 ABG Sundal Collier ANDERS IDBORG buy 5 M 24 6 month 25.07.2013 Landesbank Baden-Wuerttemberg VOLKER STOLL hold 3 D 22 Not Provided 25.07.2013 SEB Enskilda DANIEL SCHMIDT buy 5 M 22 Not Provided 25.07.2013 Carnegie KENNETH TOLL JOHANSSON buy 5 M #N/A N/A Not Provided 25.07.2013 Canaccord Genuity Corp ANDREW BELL hold 3 M 20 12 month 25.07.2013 Handelsbanken HAMPUS ENGELLAU buy 5 M 27 12 month 25.07.2013 Swedbank MATS LISS buy 5 M 23 12 month 25.07.2013 Natixis ARNAUD SCHMIT neutral 3 M 20 Not Provided 25.07.2013 Nomura DANIEL CUNLIFFE buy 5 M 27 12 month 25.07.2013 S&P Capital IQ JAWAHAR HINGORANI hold 3 M 22 12 month 25.07.2013 Main First Bank AG CHRISTOPHER YOUL outperform 5 M 24 12 month 25.07.2013 Baden Hill LLP NICHOLAS WOODIFIELD buy 5 M #N/A N/A Not Provided 09.07.2013 Kepler Cheuvreux CHRISTOPHER LADNER hold 3 M 22 Not Provided 15.05.2013 Redburn Partners JAMES MOORE neutral 3 M #N/A N/A Not Provided 17.04.2013 Pareto Securities DAVID JACOBSSON hold 3 M 17 6 month 27.07.2012 Holdings By: ABB Ltd All Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
  18. 18. 27.09.2013 Compagnie Financiere Richemont SA, through subsidiaries, manufactures and retails luxury goods. The Company produces jewelry, watches, leather goods, writing instruments, and men's and women's wear. Latest Fiscal Year: 03/2013 LTM as of: 03/yy 52-Week High (14.08.2013) 96.15 52-Week Low (28.09.2012) 56.40 Daily Volume 91.65 52-Week High % Change -4.68% Dividend Yield - 52-Week Low % Change 62.50% Beta 1.42 % 52 Week Price Range High/Low 88.05% Equity Float 521.72 Shares Out 31.03.2013 522.0 Short Int - 52'625.43 1 Yr Total Return 61.38% Total Debt 1'938.00 YTD Return 29.74% Preferred Stock 0.0 Adjusted BETA 1.422 Minority Interest (1.0) Analyst Recs 37 Cash and Equivalents 5'155.00 Consensus Rating 3.919 Enterprise Value 39'748.66 Average Volume 5 Day 1'133'975 CFR VX EQUITY YTD Change - Average Volume 30 Day 1'016'041 CFR VX EQUITY YTD % CHANGE - Average Volume 3 Month 1'001'796 LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2 31.03.2009 31.03.2010 31.03.2011 31.03.2012 31.03.2013 03/yy 03/yy 03/14 Y 03/15 Y 06/13 Q1 09/13 Q2 5'418.0 5'176.0 6'892.0 8'868.0 10'150.0 6'430.0 9'697.0 11'034.6 12'075.7 - - 1.05x 2.82x 2.72x 2.56x 3.02x 0.00x 0.00x 3.52x 3.12x - - 1'345.0 1'259.0 1'669.0 2'387.0 2'817.0 0.0 0.0 3'087.4 3'455.9 - - 4.23x 11.59x 11.22x 9.50x 10.88x 0.00x 0.00x 12.89x 11.52x - - 1'075.0 599.0 1'090.0 1'544.0 2'013.0 0.0 0.0 2'246.9 2'507.9 - - 8.94x 26.38x 20.65x 16.70x 16.74x 0.00x 0.00x 18.71x 16.67x - - EBITDA 2'817.00 Long-Term Rating Date - EBIT 2'434.00 Long-Term Rating - Operating Margin 23.98% Long-Term Outlook - Pretax Margin 23.40% Short-Term Rating Date - Return on Assets 15.33% Short-Term Rating - Return on Common Equity 21.45% Return on Capital - EBITDA/Interest Exp. 74.13 Asset Turnover 0.77% (EBITDA-Capex)/Interest Exp. 58.55 Net Debt/EBITDA -1.14 Gross Margin 64.2% Total Debt/EBITDA 0.69 EBITDA Margin 27.8% EBIT Margin 24.0% Total Debt/Equity 19.0% Net Income Margin 19.8% Total Debt/Capital 15.9% Asset Turnover 0.77 Current Ratio 3.05 Net Fixed Asset Turnover 6.12 Quick Ratio 1.66 Accounts receivable turnover-days 19.01 Debt to Assets 13.37% Inventory Days 401.84 Tot Debt to Common Equity 18.97% Accounts Payable Turnover Day 112.06 Accounts Receivable Turnover 19.21 Cash Conversion Cycle 308.78 Inventory Turnover 0.91 Fiscal Year Ended Cie Financiere Richemont SA Price/Volume Valuation Analysis 680'609.00 Current Price (9/dd/yy) Market Data Net Income P/E Market Capitalization Average Daily Trading Volume Relative Stock Price Performance Total Revenue TEV/Revenue EBITDA TEV/EBITDA Profitability S&P Issuer Ratings Credit Ratios Margin Analysis Reference Structure 0 10 20 30 40 50 60 70 80 90 100 s-12 o-12 n-12 d-12 j-13 f-13 m-13 a-13 m-13 j-13 j-13 a-13 s-13 .0 M .5 M 1.0 M 1.5 M 2.0 M 2.5 M 3.0 M 3.5 M 4.0 M 4.5 M 5.0 M 0.0 2'000.0 4'000.0 6'000.0 8'000.0 10'000.0 12'000.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 0.00 5.00 10.00 15.00 20.00 25.00 30.00 02.04.2010 02.10.2010 02.04.2011 02.10.2011 02.04.2012 02.10.2012 02.04.2013 Sales/Revenue/TurnoverPrice/ Cash Flow Sales/Revenue/TurnoverPrice/ Cash Flow Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

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